SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Intermountain Community Bancorp In Connection With The Propose...
30 Julio 2014 - 7:35PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Intermountain Community Bancorp
(“Intermountain” or the “Company”) (Nasdaq: IMCB) relating to the
proposed buyout of the Company by Columbia Banking System, Inc.
(“Columbia”).
Under the terms of the transaction, Intermountain shareholders
will receive 0.6426 shares of Columbia common stock and $2.2930 in
cash for each share of Intermountain stock they own, representing a
value of approximately $18.22 per share based on Columbia’s closing
price as of July 23, 2014. The firm’s investigation seeks to
determine, among other things, whether the Company’s Board of
Directors breached their fiduciary duties by failing to maximize
shareholder value before agreeing to enter into the transaction,
and whether Columbia is underpaying for Intermountain shares.
If you currently own common stock of Intermountain and would
like to learn more about the investigation being conducted by
Brower Piven, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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