We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Bank of Fincastle (“BFTL” or the “Company”) (OTCM: BFTL) in connection with the proposed acquisition of the Company by First National Corporation (“First National”) (NASDAQ: FXNC).  Under the terms of the merger agreement, BFTL shareholders may elect to receive either $3.30 in cash or 0.1649 shares of First National common stock, or a combination of stock and cash, subject to election and proration such that the aggregate consideration will consist of 80 percent First National stock and 20 percent cash, for each BFTL share that they own.  The proposed transaction is valued at approximately $31.6 million.

WeissLaw is investigating whether (i) BFTL’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates BFTL’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com