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The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Legacy Bancorp, Inc. in Con

^{Published on 2010-12-23 13:56:15 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Joseph Klein is investigating the Board of Directors of Legacy Bancorp, Inc. (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, Legacy shareholders will receive 0.56385 Berkshire common shares plus $1.30 cash per share. Based on the average closing price of Berkshirea™s stock for the ten day period ending December 15, 2010, the transaction values Legacy stock at $13.00 per share.

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.

If you own common stock in Legacy and wish to obtain additional information, please contact Joseph Klein, Esq. directly, via email at [ jk@jkleinlawfirm.com ], by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit [ http://www.jkleinlawfirm.com/legacy-legc.html ].

Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.