We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Malvern Bancorp, Inc. (“Malvern” or the “Company”) (NASDAQ: MLVF), in connection with the proposed acquisition of the Company by First Bank (“First Bank”) (NASDAQ: FRBA).  Under the merger agreement, the Company’s shareholders will receive 0.7733 shares of First Bank common stock, plus $7.80 in cash for each outstanding Malvern share, representing implied per-share consideration of $19.64 based upon First Bank’s December 13,2022 closing price of $15.31.  The transaction is valued at approximately $149.5 million.

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