The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
24 December 2010 - 5:03AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Legacy Bancorp, Inc. (“Legacy” or the “Company”) (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. (“Berkshire”) (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 merger is valued at $13.00 per share of
Legacy common stock based on the average closing price of
Berkshire’s stock for the ten day period ending December 15,
2010.
Click here to learn how to join the action:
http://www.zlk.com/legacy-legc.html, or call: 877-363-5972.
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,
thus unlawfully harming Legacy stockholders.
If you own common stock in Legacy and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit http://www.zlk.com/legacy-legc.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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