WeissLaw LLP Investigates Guaranty Bancorp Acquisition

NEW YORK, May 23, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Guaranty Bancorp ("GBNK" or the "Company") (NASDAQ: GBNK) in connection with the proposed acquisition of the Company by Independent Bank Group Inc. ("IBTX") (NASDAQ: IBTX).  Under the terms of the acquisition agreement, GBNK shareholders will receive 0.45 of a IBTX share in exchange for each GBNK share they own, representing consideration of $ 32.73 per GBNK share, based on IBTX's May 23 trading price of $72.75. 

WeissLaw is investigating whether GBNK's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, according to IBTX's Chairman and CEO, "[t]his transaction represents the build out of [IBTX's] Colorado footprint through the acquisition of a high quality bank operating in dynamic markets along the Front Range.  [GBNK] is the premier Colorado banking franchise and brings a committed management team, consistent level of high profitability, clean balance sheet, strong core deposit base, and a track record of growth."

Moreover, the Company recently announced record earnings.  It reported net income of $13.6 million in the first quarter of 2018, representing an impressive 37.7% annual increase when compared to the figures reported in the same period of the previous year. 

Given these facts, WeissLaw is investigating whether GBNK's Board acted in the best interests of GBNK's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own GBNK shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.  

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.comor fill out the form on our website, http://www.weisslawllp.com/guaranty-bancorp/

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SOURCE WeissLaw LLP