Klehr Harrison Harvey Branzburg filed a shareholder derivative lawsuit Monday in Pennsylvania Eastern District Court against Republic First Bancorp. The suit, brought on behalf of Driver Opportunity Partners I, arises from a recent announcement that Republic intends to postpone its annual shareholder meeting, scheduled for May 10, indefinitely. The complaint seeks to compel Republic to proceed with the meeting and accuses the company's board of attempting to maintain the status quo amid an 'extended period of poor strategic decisions and reduction in shareholder value' by management. Counsel have not yet appeared for the defendant. The case is 2:22-cv-01694, Driver Opportunity Partners I, LP v. Republic First Bancorp, Inc.
Banking & Financial Services
May 02, 2022, 7:29 PM