Newport Bancorp Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to SI Financial Group
08 3월 2013 - 1:56AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Newport Bancorp, Inc. (“Newport”)
(NasdaqGM: NFSB) to SI Financial Group for shareholders. Under the
terms of the proposed transaction valued at approximately $61.3
million in aggregate, Newport shareholders can elect to receive
either $17.55 in cash or 1.5129 shares of SI Financial Group
(subject to proration procedures) for each share of Newport stock
owned.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at zach@powerstaylor.com.
There is no cost or fee to you.
The Newport sale investigation centers on whether Newport’s
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Newport’s stock,
and whether Newport’s board attempted to obtain the highest share
price for all shareholders prior to agreeing to the deal. According
to shareholder rights attorney Willie Briscoe, “Due to the proposed
sale price and other factors, we believe this transaction may
undervalue Newport’s stock. Our proposed lawsuit will seek to
obtain the highest possible share price for all NFSB
shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Newport Bancorp, Inc. (MM) (NASDAQ:NFSB)
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Newport Bancorp, Inc. (MM) (NASDAQ:NFSB)
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