The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Centra...
01 Maggio 2012 - 5:58PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Central Bancorp Inc. (“Central Bancorp” or the “Company”) (Nasdaq:
CEBK) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to
Independent Bank Corp. (“Independent”) (Nasdaq: INDB). Under the
terms of the agreement, 60% of outstanding Central Bancorp shares
will be exchanged for shares of Independent at an exchange ratio
subject to limited adjustment, and 40% of outstanding Central
Bancorp shares will be purchased for $32.00 per share in cash.
Based upon Independent’s $28.67 per share closing price on April
27, 2012 the transaction is valued at approximately $54.8
million.
Click here to learn how to join the action:
http://www.zlk.com/central-bancorp-cebk, or call: 877-363-5972.
There is no cost or obligation to you.
The investigation concerns whether the Central Bancorp Board of
Directors breached their fiduciary duties to Central Bancorp
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Independent is
underpaying for Central Bancorp shares, thus unlawfully harming
Central Bancorp stockholders.
If you own common stock in Central Bancorp and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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