Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Bancorp Rhode Island, Inc. - BARI
26 Abril 2011 - 8:56AM
Business Wire
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.
Request more information now by clicking here:
www.faruqilaw.com/BARI
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.
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