SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

October 29, 2013 15:47 ET

LEVI & KORSINSKY, LLP Notifies Investors of METROCORP BANCSHARES INC. Claims of Breaches of Fiduciary Duty by Board of the Company in Connection With Sale of Company to East West Bancorp, Inc.

NEW YORK, NY--(Marketwired - Oct 29, 2013) - Levi & Korsinsky notifies investors of Metrocorp Bancshares Inc. ("Metrocorp" or the "Company") (NASDAQ: MCBI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to East West Bancorp, Inc. (NASDAQ: EWBC). A complaint was filed in Texas state court.

Click here to learn more about the case, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, Metrocorp shareholders will receive the lesser of $14.60 per share and 1.72 times per-share tangible equity for each share of Metrocorp stock they own. The transaction has an approximate total value of $273 million. The claims concern whether the Metrocorp Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether East West Bancorp, Inc. is underpaying for Metrocorp shares.

If you own Metrocorp common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit

Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171