NEW YORK, Oct. 29, 2013 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of Washington
Banking Co. ("Washington Banking" or the "Company") (Nasdaq: WBCO)
for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to Heritage
Financial Co. ("Heritage") (Nasdaq: HFWA).
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Click here to learn more about the investigation
http://zlk.9nl.com/washington-banking-wbco/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Washington Banking
shareholders will receive 0.89 shares of Heritage common stock and
$2.75 in cash for each share of
Washington Banking stock they own; this represents a value of
approximately $16.89 per share. The
investigation concerns whether the Washington Banking Board of
Directors breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into this transaction, and whether Heritage is underpaying for
Washington Banking shares. In particular, at least one analyst set
a price target of $17.00 per
Washington Banking share.
If you own Washington Banking common stock and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or visit
http://zlk.9nl.com/washington-banking-wbco/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities
and shareholder lawsuits. For more information, please feel free to
contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP