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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Wainwright Bank & Trust Company

^{Published on 2010-07-12 19:00:43 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Wainwright Bank & Trust Company (aWainwrighta or the aCompanya) (NASDAQ:WAIN) related to the Companya™s agreement to be acquired by Eastern Bank Corporation (aEastern Banka). The proposed cash transaction is valued at approximately $163 million.

Under the terms of the definitive agreement entered into by the parties, shareholders of Wainwright will be entitled to receive $19.00 in cash for each share of Wainwright common stock and common stock equivalents outstanding. Completion of the merger is expected to occur in the fourth quarter of 2010. Upon completion of the transaction, Wainwright will remain as a separate subsidiary of Eastern Bank for a transition period before it is merged into Eastern Bank. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Wainwrighta™s board of directors.

If you own shares of Wainwright, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].