The Law Firm of Weiss & Lurie Investigates the Acquisition of Bancorp Rhode Island, Inc.
21 Abril 2011 - 5:43PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Bancorp Rhode
Island, Inc. (NASDAQ:BARI) (“BankRI”) arising from its proposed
acquisition by Brookline Bancorp, Inc. (NASDAQ:BRKL).
Under the terms of the transaction, for each BankRI share,
stockholders will receive either $48.25 in cash, or 4.686 shares of
Brookline Bancorp common stock, or a combination thereof.
Weiss & Lurie is investigating whether BankRI’s Board acted
in the best interests of shareholders in approving the transaction
and whether the Board properly sought to maximize shareholder
value. Shareholders have the right to know the process and
rationale of BankRI’s Board in approving this transaction, and
whether the Board is trying to conceal facts that would reflect
badly upon Board members and the transaction.
Upon the completion of the merger, BankRI will operate as a
separate unit of Brookline with all BankRI Board members retaining
their directorships, BankRI’s CEO Merrill W. Sherman and another
BankRI director joining Brookline’s Board, and Mark Meiklejohn,
BankRI’s Executive Vice President and Chief Lending Officer,
becoming BankRI’s President and CEO.
If you own BankRI shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun either by email at
infony@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (such as
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading press releases or SEC filings),
consumer fraud (such as false advertising, defective products, or
other deceptive business practices), or anti-trust violations,
please email us at infony@weisslurie.com or fill out the form on
our website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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