NEW YORK, July 13, 2016 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Ocean Shore
Holding Co. ("Ocean Shore" or the "Company") (NYSE: OSHC (ISIN:
US67501R1032) (CUSIP: 67501R103) concerning the proposed
acquisition of Ocean Shore by OceanFirst Financial Corporation
("OceanFirst").
Ocean Shore shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 9980.
The investigation concerns whether the Ocean Shore directors are
breaching their fiduciary duties by failing to adequately maximize
shareholder value. Under the terms of the proposed
transaction, Ocean Shore common stock will be entitled to receive
$4.35 in cash and 0.9667 shares of
OceanFirst common stock for each share of Ocean Shore common
stock.
However, the merger price is below a recent analyst target price
of $20.00 per share.
Moreover, EBIT is below the average of comparable
transactions, according to a Bloomberg analysis.
Pomerantz LLP, with offices in New
York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz LLP pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz LLP continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate
misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See
www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz LLP
212-661-1100 ext. 9980
rswilloughby@pomlaw.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-llp-investigates-claims-that-the-merger-may-not-be-in-the-best-interest-of-investors-of-ocean-shore-holding-co---oshc-300298252.html
SOURCE Pomerantz LLP