Law Firm Brower Piven Announces Investigation of Atlantic Coast Financial Corporation Proposed Buyout

STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Atlantic Coast Financial Corporation (“Atlantic Coast” or the “Company”) (Nasdaq: “ACFC”) and other violations of state law by the board of directors of Atlantic Coast relating to the proposed buyout of the Company by Bond Street Holdings, Inc. Atlantic Coast is the holding company of Atlantic Coast Bank. The firm’s investigation seeks to determine, among other things, whether Atlantic Coast’s board of directors breached their fiduciary duties by failing to maximize shareholder value.