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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 Le

^{Published on 2010-12-23 10:36:25 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Legacy Bancorp, Inc. (aLegacya or the aCompanya) (Nasdaq: LEGC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company and its subsidiary Legacy to Berkshire Hills Bancorp, Inc. (aBerkshirea) (Nasdaq: BHLB). Under the terms of the transaction, outstanding shares of Legacy common stock will be exchanged for 0.56385 Berkshire common shares plus $1.30 cash. The merger is valued at $13.00 per share of Legacy common stock based on the average closing price of Berkshirea™s stock for the ten day period ending December 15, 2010.

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

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

If you own common stock in Legacy 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/legacy-legc.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. Attorney advertising. Prior results do not guarantee similar outcomes.