NEBS New England Bancshares, Inc. (MM)

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 New England Bancshares, Inc. (“NEBS”) (Nasdaq:NEBS) arising from its agreement for NEBS to be acquired by United Financial Bancorp, Inc. (“UFB”) (Nasdaq:UBNK) in a stock-for-stock transaction.

Under the merger agreement, shareholders will receive 0.9575 shares of UFB common stock per NEBS share upon the close of the proposed transaction, which values NEBS stock at approximately $14.24 per share based on UFB’s May 30, 2012 closing price. The transaction is expected to close in the fourth quarter of 2012.

Weiss & Lurie is investigating whether NEBS’s Board acted in the best interests of shareholders in approving this deal. Notably, for the quarter ended December 31, 2011, NEBS reported “continued loan growth and a strong capital position,” with earnings of approximately $1.7 million and net income of approximately $3.4 million, a year-over-year increase of 85% and 42%, respectively.

As part of the deal, insiders have secured special benefits for themselves – for example, upon consummation of the deal, two members of the NEBS board of directors, including David J. O’Connor, NEBS’s President and CEO, will join UFB’s board of directors.

If you own NEBS shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun, Esq. either by telephone at (888) 593-4771 or by email at info@weisslurie.com.

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, consumer fraud, or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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New England Bancshares, Inc. (MM) (NASDAQ:NEBS)
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New England Bancshares, Inc. (MM) (NASDAQ:NEBS)
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부터 2월(2) 2024 으로 2월(2) 2025