meeting of shareholders of the company at the round – table.the concept of business meetings Republic First Bancorp.'s Plan to Postpone Shareholder Meeting Draws Securities Action
This suit was surfaced by Law.com Radar. Read the complaint here.
May 04, 2022 at 12:47 PM
1 minute read
Financial Services and Banking
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.
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