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Bank Plate  Form

Bank Plate Form

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section 14a of the securities exchange act of 1934 prohibits corporate directors from using false or misleading material statements when soliciting shareholder proxies in the 1991 case virginia bank shares incorporated versus sandberg the united states supreme court considered whether a minority shareholder whose vote wasn't required for corporate action had a cause of action under the exchange act based on a misleading conclusory proxy statement in 1986 virginia bank shares incorporated or vbi was a wholly owned subsidiary of first american bank shares incorporated or fabi at the time fabi sought a merger between vbi and the first american bank of virginia or fabv vbi owned 85 percent of fabv stock the remaining 15 percent of stock was owned by 2 000 minority shareholders fabi hired an investment firm that determined 42 dollars per share would be a fair price for fabv stock fabi then circulated a statement informing the minority shareholders of the proposed merger additionally

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