The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Bancorp Rh...
28 Aprile 2011 - 1:57AM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Bancorp Rhode Island, Inc. (Nasdaq: BARI) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Brookline Bancorp, Inc.
(Nasdaq: BRKL). Under the terms of the transaction, Bancorp Rhode
Island shareholders may elect to receive either $48.25 in cash or
4.686 shares of Brookline Bancorp common stock per Bancorp Rhode
Island share for a total transaction value of approximately $234
million.
The investigation concerns whether the Bancorp Rhode Island
Board of Directors breached their fiduciary duties to Bancorp Rhode
Island stockholders by failing to adequately shop the Company
before entering into this transaction and whether Brookline
Bancorp, Inc. is underpaying for Bancorp Rhode Island shares.
If you own common stock in Bancorp Rhode Island and wish to
obtain additional information, please contact Abe Shainberg, Esq.
either via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/bancorp-rhode-island.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
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