The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Danvers Ba...
26 Janvier 2011 - 12:18AM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Danvers Bancorp, Inc. (Nasdaq: DNBK) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to People’s
United Financial, Inc. (Nasdaq: PBCT), the holding company for
People’s United Bank. In the proposed transaction, Danvers Bancorp
shareholders may elect to receive either $23.00 in cash or 1.624
shares of People’s United Financial stock share. The proposed
transaction has a total value of approximately $493 million and
will consist of 55% stock and 45% cash.
The investigation concerns whether the Danvers Bancorp Board of
Directors breached their fiduciary duties to Danvers Bancorp
stockholders by failing to adequately shop the Company before
entering into this transaction and whether People’s United
Financial is underpaying for Danvers Bancorp shares, thus
unlawfully harming Danvers Bancorp stockholders.
If you own common stock in Danvers Bancorp and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/danvers-bancorp.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
Danvers Bancorp, Inc. (MM) (NASDAQ:DNBK)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Danvers Bancorp, Inc. (MM) (NASDAQ:DNBK)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about Danvers Bancorp, Inc. (MM) (NASDAQ): 0 recent articles
Plus d'articles sur The Law Offices of Vincent Wong