The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Banc...
21 Abril 2011 - 12:01PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Bancorp Rhode Island, Inc. (“Bancorp Rhode Island” or the
“Company”) (Nasdaq: BARI) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Brookline Bancorp, Inc. (Nasdaq: BRKL). Under the
terms of the transaction, Bancorp Rhode Island shareholders may
elect to receive either $48.25 in cash or 4.686 shares of Brookline
Bancorp common stock per Bancorp Rhode Island share they own. The
transaction has a total value of approximately $234 million.
Click here to learn how to join the action:
http://www.zlk.com/bancorp-rhode-island-bari.html, or call:
877-363-5972.
The investigation concerns whether the Bancorp Rhode Island
Board of Directors breached their fiduciary duties to Bancorp Rhode
Island stockholders by failing to adequately shop the Company
before entering into this transaction and whether Brookline
Bancorp, Inc. is underpaying for Bancorp Rhode Island shares, thus
unlawfully harming Bancorp Rhode Island stockholders.
If you own common stock in Bancorp Rhode Island 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/bancorp-rhode-island-bari.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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