We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Burke & Herbert Financial Services Corp. (“Burke & Herbert” or the “Company”) (NASDAQ: BHRB) in connection with its proposed merger with Summit Financial Group, Inc. (NASDAQ: SMMF) (“Summit”).  Under the terms of the merger agreement, the Company’s shareholders will receive 0.5043 shares of Summit common stock for each common share of Burke & Herbert owned, representing implied per-share consideration of $12.48 based upon Summit’s August 25, 2023 closing price of $24.74.  Upon completion of the transaction, Burke & Herbert shareholders and Summit shareholders will each own 50% of the combined company.

Weiss Law is investigating whether (i) Burke & Herbert’s board acted in the best interests of Company shareholders in agreeing to the merger, (ii) the merger consideration adequately compensates Burke & Herbert’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

Weiss Law 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