Ameriserv Financial Inc. can move forward with a May 26 board election while litigation plays out over its decision to reject an activist investor’s dissident director slate, a federal judge ruled Monday.
Judge Stephanie L. Haines denied a preliminary injunction request by a Driver Management Co. affiliate that unsuccessfully sought to nominate three candidates to the bank’s board after acquiring a nearly 9% stake between August 2022 and January. Ameriserv’s stock price has slid from around $4 a share to $2.85 since early March.
The case in the US District Court for the Western District of Pennsylvania is one of ...
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