Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Bancorp Rhode Island, Inc.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Bancorp Rhode Island, Inc. (“Bancorp RI” or the “Company”) (NasdaqGS: BARI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Brookline Bancorp, Inc. (NasdaqGS: BRKL) for approximately $234 million. The proposed transaction offers Bancorp RI shareholders to elect to receive either $48.25 cash or 4.686 shares of Brookline Bancorp common stock per Bancorp Rhode Island share they own. The transaction is expected to close in the fourth quarter of 2011.

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Whether the Bancorp RI’s Board of Directors breached their fiduciary duties to Bancorp RI’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Bancorp RI’s shares and by how much this proposed transaction undervalues the Company to the detriment of Bancorp RI shareholders are the key focus of this investigation.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in Bancorp RI and wish to obtain additional information, please visit us at www.faruqilaw.com/BRNC or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.

Bancorp Rhode Island, Inc. (MM) (NASDAQ:BARI)
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