SHAREHOLDER ALERT: Brower Piven Announces Investigation Of Colonial Financial Services, Inc. In Connection With The Proposed ...
23 9월 2014 - 5:10AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Colonial Financial Services, Inc.
(“Colonial Financial” or the “Company”) (NASDAQ: COBK) relating to
the proposed buyout of the Company by Cape Bancorp, Inc. (“Cape
Bancorp”).
On September 10, 2014, Colonial Financial and Cape Bancorp
jointly announced the signing of an agreement and plan of merger
pursuant to which Cape Bancorp will acquire Colonial Financial in a
transaction valued at approximately $55 million. The transaction is
expected to close in the first half of 2015, though Colonial
Financial shareholders will most likely be asked to vote on the
transaction well before that time.
Under the terms of the transaction, Colonial Financial
shareholders may elect to receive either $14.50 per share in
cash or 1.412 shares of Cape Bancorp for each share of Colonial
Financial they own. The firm’s investigation seeks to determine,
among other things, whether the Company’s Board of Directors
breached their fiduciary duties by failing to maximize shareholder
value before agreeing to enter into the transaction, and whether
Cape Bancorp is underpaying for Colonial Financial shares.
If you currently own common stock of Colonial Financial and
would like to learn more about the investigation being conducted by
Brower Piven, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven1925 Old
Valley RoadStevenson, Maryland 21153Telephone:
410-415-6616hoffman@browerpiven.com
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