Briscoe Law Firm Investigates Bancorp Rhode Island, Inc. for Shareholders Concerning Acquisition by Brookline Bancorp, Inc.
22 Abril 2011 - 10:40AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Bancorp Rhode Island, Inc. (“Bancorp
Rhode Island” or “BARI”) (NASDAQ: BARI) related to the proposed
buyout of Bancorp Rhode Island by Brookline Bancorp, Inc.
The definitive merger agreement, which was announced on April
20, 2011, involves a stock and cash transaction valued at
approximately $234 million. Under the proposed buyout, Bancorp
Rhode Island shareholders will receive either $48.25 in cash or a
fixed ratio of 4.686 shares of Brookline Bancorp for each share of
Bancorp Rhode Island common stock they hold. The transaction is
expected to close in the fourth quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to Bancorp Rhode Island shareholders and whether
Bancorp Rhode Island’s Board of Directors acted in the
shareholders’ best interests. Although the acquisition price
represents a premium above the closing price of Bancorp Rhode
Island shares prior to the announcement, the firms are
investigating whether the price offered to Bancorp Rhode Island
shareholders is adequate. The firms are also investigating whether
Bancorp Rhode Island’s Board of Directors adequately considered all
viable alternatives and properly shopped the company before
entering into the acquisition agreement.
If you currently own shares of Bancorp Rhode Island/BARI and
would like additional information regarding this investigation, or
if you have information regarding the allegations involved in this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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