NEW YORK, June 4, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Select Bancorp, Inc. (“SLCT” or the “Company”) (NASDAQ: SLCT) relating to its proposed merger with First Bancorp (NYSE: FBP). Under the terms of the agreement, SLCT shareholders will receive 0.408 shares of FBP per share they own.
The investigation focuses on whether Select Bancorp, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.
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About Monteverde & Associates PC
We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018-2020 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as