The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Legacy...
29 Dezembro 2010 - 2:54PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Legacy Bancorp, Inc. (“Legacy”) (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. (Nasdaq: BHLB). Under the
terms of the transaction, outstanding shares of Legacy common stock
will be exchanged for 0.56385 Berkshire common shares plus $1.30
cash. The transaction values Legacy stock at $13.00 per share,
based on the average closing price of Berkshire’s stock for the ten
day period ending December 15, 2010.
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 Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/legacy.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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