SAN DIEGO, May 18, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Coastway Bancorp, Inc.
("Coastway") (NASDAQ: CWAY) breached their fiduciary duties in
connection with the proposed sale of the Company to HarborOne
Bancorp, Inc. ("HarborOne") (NASDAQ: HONE).
On March 14, 2018, Coastway
announced that it had signed a definitive merger agreement with
HarborOne. Under terms of the deal, Coastway stockholders will
receive $28.25 for each share of
Coastway common stock.
The investigation concerns whether the Coastway board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Coastway
shares of common stock.
A shareholder vote has been set for June 21, 2018, if you are a shareholder
of Coastway and believe the proposed buyout price is too low
or you're interested in learning more about the investigation or
your legal rights and remedies, please contact lead analyst
Jim Baker (jimb@johnsonfistel.com)
at 619-814-4471. If emailing, please include a phone
number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP