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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Center Financial Corporation, in Connection

^{Published on 2010-12-10 16:40:58 - 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 Center Financial Corporation (aCenter Financiala or the aCompanya) (NASDAQ:CLFC) related to the Companya™s agreement to merge with Nara Bancorp, Inc. (aNara Bancorpa). The proposed stock-for-stock transaction is valued at approximately $285 million.

Under the terms of the definitive merger agreement entered into by the parties, Center Financial shareholders will receive a fixed ratio of 0.7804 of a share of Nara Bancorp common stock in exchange for each share they own of Center Financial common stock. The proposed transaction is expected to close during the second half of 2011. Following completion of the merger, Nara Bancorp shareholders will own 55% of the combined company and Center Financial shareholders will own 45%. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Center Financiala™s board of directors.

If you are a shareholder of Center Financial, 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 ].