MILWAUKEE, March 15, 2018 /PRNewswire/ -- Ademi &
O'Reilly, LLP is investigating the Board of Directors of Coastway
Bancorp, Inc. (Nasdaq: CWAY) for possible breaches of fiduciary
duty and other violations of Maryland law in connection with the sale of
Coastway to HarborOne.
Click here to learn how to join the action:
http://ademilaw.com/case/coastway or call Guri Ademi toll-free at 866-264-3995. There is
no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Coastway's long-term financial
outlook is improving and yet Coastway shareholders will receive
only $28.25 for each share of
Coastway common stock they own. HarborOne is well aware of
Coastway's improving financial metrics and is purchasing Coastway
at a substantial discount. The merger agreement unreasonably limits
competing bids for Coastway by (i) prohibiting solicitation of any
further bids, and (ii) imposing a termination penalty should
Coastway receive and accept a superior bid. Coastway insiders,
their affiliates and other major shareholders own significant
voting stock, and will receive millions of dollars as part of
change of control arrangements, and therefore can unduly influence
a sale of Coastway. Our investigation centers on the conduct of
Coastway's Board of Directors, who have unanimously approved the
transaction, and whether they are (i) fulfilling their fiduciary
duties to all shareholders, and (ii) obtaining a fair and
reasonable price for Coastway given its current financial condition
and prospects.
If you own common stock in Coastway and wish to obtain
additional information, please contact Guri
Ademi either at gademi@ademilaw.com or toll-free:
866-264-3995, or http://ademilaw.com/case/coastway.
We specialize in shareholder litigation involving buyouts,
mergers, and individual shareholder rights throughout the country.
For more information, please feel free to call us. Attorney
advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
View original
content:http://www.prnewswire.com/news-releases/shareholder-alert-ademi--oreilly-llp-investigates-whether-coastway-bancorp-inc-has-obtained-a-fair-price-in-its-sale-to-harborone-bancorp-inc-300614604.html
SOURCE Ademi & O'Reilly, LLP