Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Central Jersey Bancorp - CJBK
23 Giugno 2009 - 5:01PM
Marketwired
Levi & Korsinsky announces that a class action lawsuit has been
filed in the Superior Court of New Jersey challenging the proposed
acquisition of Central Jersey Bancorp ("Central Jersey" or the
"Company") (NASDAQ: CJBK).
The Complaint arises out of the announcement by Central Jersey
stating that it had entered into a definitive merger agreement with
OceanFirst Finanacial Corp. ("OceanFirst") (NASDAQ: OCFC). Under
the merger agreement, Central Jersey shareholders will receive 0.5
shares of OceanFirst stock for each share of Central Jersey they
own. Based on the May 26, 2009 closing price of OceanFirst stock at
$14.23 per share, the transaction values Central Jersey shares at
$7.12 for a total deal value of approximately $68.4 million. The
price is unfair given that Central Jersey shares traded at $7.50
per share as recently as February 10, 2009 and the 60-day average
of OceanFirst shares is only $11.91 per share. Also, since the
transaction was announced, the price of OceanFirst shares have
traded as low as $10.83 per share.
If you own common stock in Central Jersey and wish to obtain
additional information, please contact us at the number listed
below or visit http://www.zlk.com/cjbk1.html
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. Joseph
Levi, Esq. 30 Broad Street, 15th Floor New York, NY 10006 Tel:
(212) 363-7500 Fax: (212) 363-7171 www.zlk.com
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