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Investigation announced for Investors in United Community Financial Corp. (NASDAQ: UCFC) over Takeover

09-26-2019 07:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of United Community Financial Corp. (NASDAQ: UCFC) .

An investigation on behalf of investors of United Community Financial Corp. (NASDAQ: UCFC) .

The takeover of United Community Financial Corp. is under investigation concerning whether it is unfair to NASDAQ: UCFC stockholders.

Investors who purchased shares of United Community Financial Corp. (NASDAQ: UCFC) and currently hold any of those NASDAQ: UCFC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of United Community Financial Corp. breached their fiduciary duties owed to NASDAQ: UCFC investors in connection with the proposed acquisition.

Youngstown, OH based United Community Financial Corp. operates as the holding company for Home Savings Bank that provides consumer and business banking services.

On September 9, 2019, First Defiance Financial Corp (Nasdaq: FDEF) and United Community Financial Corp. (Nasdaq: UCFC) announced the signing of a merger agreement under which United Community will merge into First Defiance in a stock-for-stock transaction. Under the terms of the merger agreement, shareholders of United Community will receive 0.3715 shares of First Defiance common stock for each share of United Community common stock. Based upon a closing price for First Defiance as of September 6, 2019 of $26.32, investor in NASDAQ: UCFC shares will receive a value of approximately $9.77 per share.

However, given that at least one analyst has set the high target price for NASDAQ: UCFC shares at $12.50 per share, the investigation concerns whether the offer is unfair to United Community Financial Corp. (NASDAQ: UCFC stockholders. More specifically, the investigation concerns whether the United Community Financial Corp. (NASDAQ: UCFC Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
United Community Financial Corp. reported that its annual Total Revenue rose from $103.29 million in 2017 to $112.65 million in 2018 and that its Net Income increased from $21.78 million in 2017 to $37.17 million in 2018.

Shares of United Community Financial Corp. (NASDAQ: UCFC) reached on September 19, 2019, as high as $10.98 per share.

Those who are current investors in United Community Financial Corp. (NASDAQ: UCFC) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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