The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Danvers Bancorp, Inc. in ...
27 Gennaio 2011 - 12:52AM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of Danvers Bancorp, Inc. (Nasdaq: DNBK) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to People’s
United Financial, Inc. (Nasdaq: PBCT), the holding company for
People’s United Bank. In the proposed transaction, Danvers Bancorp
shareholders may elect to receive either $23.00 in cash or 1.624
shares of People’s United Financial stock share. The proposed
transaction has a total value of approximately $493 million and
will consist of 55% stock and 45% cash.
The investigation concerns whether the Danvers Bancorp Board of
Directors breached their fiduciary duties to Danvers Bancorp
stockholders by failing to adequately shop the Company before
entering into this transaction and whether People’s United
Financial is underpaying for Danvers Bancorp shares, thus
unlawfully harming Danvers Bancorp stockholders.
If you own common stock in Danvers Bancorp and wish to obtain
additional information, please contact Joseph Klein, Esq. directly,
via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005,
Toll Free: 877-STOK-180, or visit
http://www.jkleinlawfirm.com/danversbancorp-dnbk.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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