Faruqi & Faruqi, LLP Investigates Buyout of Wainright Bank & Trust Co.

Faruqi & Faruqi, LLP, a leading New York securities firm, is investigating the Board of Directors of Wainright Bank & Trust Co. (NASDAQ: WAIN) ("Wainright" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Eastern Bank Corporation. Under the terms of the transaction, Wainwright shareholders will receive only $19.00 in cash for each Wainright share of common stock they own.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Wainright leading up to and approving this transaction, whether the offer price undervalues the Company and by how much, and whether Wainright’s Board of Directors acted in the shareholders’ best interests. The merger is expected to close in the fourth quarter 2010, and upon closing certain officers and directors of Wainright are expected to remain with Eastern Bank. As of March 31, 2010, Wainright had assets of approximately $1 billion.

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 Wainright and wish to obtain additional information, please visit us at http://www.faruqilaw.com/merger.php or contact Juan E. Monteverde, Esq. either via email at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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