Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Danvers Bancorp, Inc. - DNBK
26 Enero 2011 - 1:58PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Danvers Bancorp, Inc. (“Danvers” or the “Company”)
(NasdaqGS: DNBK) for potential breaches of fiduciary duties in
connection with their conduct related to the sale of the Company to
People’s United Financial, Inc. (“People’s United”) (NasdaqGS:
PBCT) for an estimated $493 million. The proposed cash-and-stock
transaction offers Danvers shareholders to either receive $23 in
cash for each share of Danvers or 1.624 shares of People’s United
stock, whereby 55% of Company shares are exchanged for stock and
45% for cash.
Request more information now by clicking here:
www.faruqilaw.com/DNBK
Whether the Danvers’ Board of Directors breached their fiduciary
duties to Danvers’ 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 Danvers’ shares and by how much this proposed
transaction undervalues the Company to the detriment of Danvers
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 Danvers and wish to obtain additional
information, please visit us at www.faruqilaw.com/DNBK 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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