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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Th

^{Published on 2010-10-25 13:00:20 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of The Wilber Corporation (aWilber Corporationa or the aCompanya) (AMEX: GIW) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Community Bank System, Inc. (aCommunity Bank Systema) (NYSE: CBU). Under the terms of the transaction, Wilber Corporation shareholders will receive $9.50 in Community Bank System stock and cash for each share of Wilber Corporation common stock for a total transaction value of approximately $101.8 million. At June 30, 2010, Wilber Corporation, parent company of Wilber National Bank, had total assets of $929 million, net loans of $553 million, and deposits of $778 million. The transaction is expected to be accretive to CBU earnings per share in 2011, exclusive of one-time acquisition related charges.

Click here to learn how to join the action: [ http://www.zlk.com/wilber-giw.html ], or call: 877-363-5972.

The investigation concerns whether the Wilber Corporation Board of Directors breached their fiduciary duties to Wilber Corporation stockholders by failing to adequately shop the Company before entering into this transaction and whether Community Bank System is underpaying for Wilber Corporation shares, thus unlawfully harming Wilber Corporation stockholders.

If you own common stock in Wilber Corporation 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://www.zlk.com/wilber-giw.html ].

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.