Rigrodsky & Long, P.A. Investigates Rome Bancorp, Inc. Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Rome Bancorp, Inc. (“Rome Bancorp” or the “Company”) (Nasdaq: ROME) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Berkshire Hills Bancorp, Inc. (“Berkshire”), in a cash and stock transaction valued at approximately $74 million. Click here to learn how to join the action: http://www.rigrodskylong.com/news/RomeBancorpInc-ROME.

Under the proposed agreement, 70% of the outstanding Rome Bancorp shares will be exchanged for Berkshire shares at a fixed exchange ratio of 0.5658 Berkshire shares for each share of Rome Bancorp. The remaining 30% of Rome Bancorp shares will be exchanged for cash in the amount of $11.25 per share. Based on Berkshire's closing stock price of $18.78 on October 11, 2010, the combined consideration for Rome Bancorp’s shares is calculated at $10.81 per share.

The investigation concerns whether Rome Bancorp’s board of directors failed to adequately shop the Company and obtain the best price possible for Rome Bancorp’s shareholders before entering into the agreement with Berkshire. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $11.00 per share for Rome Bancorp stock.

If you own the common stock of Rome Bancorp and purchased your shares before October 12, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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Rome Bancorp, Inc. (MM) (NASDAQ:ROME)
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