AmeriServ Financial Files Lawsuit Against Driver Management to Protect the Company and All Stakeholders

Mar 20, 2023

AmeriServ Financial, Inc. (“AmeriServ” or the "Company") (NASDAQ: ASRV) today announced that it has filed a lawsuit in the Court of Common Pleas of Cambria County, Pennsylvania, against Driver Opportunity Partners I LP (“Driver”), its founder and managing member, J. Abbott R. Cooper, and Driver’s purported director nominees Julius “Izzy” Rudolph and Brandon L. Simmons. The lawsuit seeks declaratory judgement that Driver’s purported notice of intent to nominate director candidates (the “Purported Notice”) at the Company’s 2023 Annual Meeting of Shareholders (the “Annual Meeting”) is invalid and that Driver be enjoined from soliciting proxies in connection with the Annual Meeting.

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