Harleysville National Corporation Shareholder Investigations Allege Unfair Price

First Niagara Financial Group Inc appear on Monday, July 27, 2009 to access Harleysville National Corporation for $237 actor in an all banal deal. Immediately several Investigations on account of accepted investors of Harleysville National Corporation (Public, NASDAQ:HNBC), who purchased the shares afore July 27, 2009, over abeyant breaches of fiduciary assignment and added violations of accompaniment law in affiliation with an declared arbitrary takeover amount were announced.

Those who currently are investors in shares of Harleysville National Corporation (Public, NASDAQ:HNBC), and purchased the shares afore July 27, 2009, and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at Email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. The investigations by law firms focus on abeyant breaches of fiduciary assignment and added violations of accompaniment law by the Board of Directors of Harleysville National Corporation arising out of their attack to advertise Harleysville National to First Niagara Financial Group. First Niagara appear in a columnist absolution that First Niagara has agreed to access the Philadelphia-area banking casework aggregation Harleysville National Corporation (NASDAQ: HNBC) in an all-stock transaction admired at about $237 actor or $5.50 per share. According to First Niagara Financial Group “each Harleysville actor will accept 0.474 shares of First Niagara accepted banal for anniversary Harleysville allotment owned, apery a exceptional of about 37.5% based on the Pennsylvania bank's closing amount on July 24, 2009 of $4.00 per share”.

But according to one analysis “the transaction appears to be unfair” to accepted investors of Harleysville National Corporation (Public, NASDAQ:HNBC) accustomed the actuality the shares of Harleysville National (NASDAQ:HNBC) traded as top as $9.86 per allotment on April 21, 2009. Another analysis “concerns whether the Harleysville Board of Directors breached their fiduciary duties to Harleysville shareholders accustomed that (i) the Company's shares traded at $6.47 as afresh as June 5, 2009 and over $14.50 per allotment in January 2009; (ii) the Company has a book amount of over $11.00 per share; and (iii) because the Company agreed to a non-solicitation accouterment and a abortion fee of $10.0 actor that will all but ensure that no above action will anytime be forthcoming”.

Harleysville National Corporation, amid in Harleysville, PA, is the ancestor case captivation aggregation of Harleysville National Bank and Trust Company, a wholly endemic accessory of the Company. Harleysville National Bank and Trust Company provides a ambit of cyberbanking services, including loans and deposits, investment administration and assurance and investment advising casework to alone and accumulated barter amid primarily in eastern Pennsylvania. Shares of Harleysville National Corp (Public, NASDAQ:HNBC) traded at $5.49 per allotment afterwards the announcement, down from a 52weekHigh of $20.60 per allotment and about $15 per allotment in the alpha of 2009. Harleysville National had in 2007 Total Assets of $3.903billion with a Net Income of $26.59million and in 2008 Total Assets of $.549051billion with a Net Income of $25.09million.