The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Legacy Bancorp, Inc. in C...
23 Dicembre 2010 - 10:46PM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of Legacy Bancorp, Inc. (Nasdaq: LEGC) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company and its subsidiary Legacy
to Berkshire Hills Bancorp, Inc. (“Berkshire”) (Nasdaq: BHLB).
Under the terms of the transaction, Legacy shareholders will
receive 0.56385 Berkshire common shares plus $1.30 cash per share.
Based on the average closing price of Berkshire’s stock for the ten
day period ending December 15, 2010, the transaction values Legacy
stock at $13.00 per share.
The investigation concerns whether the Legacy Board of Directors
breached their fiduciary duties to Legacy stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Berkshire is underpaying for Legacy
shares.
If you own common stock in Legacy 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/legacy-legc.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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