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.

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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.

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Danvers Bancorp, Inc. (MM) (NASDAQ:DNBK)
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