Business & Finance
Business and Finance
Business and Finance
Fri, January 21, 2011
Thu, January 20, 2011 The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Danver
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Danvers Bancorp, Inc. (or the aCompanya) (Nasdaq: DNBK), the holding company for Danversbank, for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Peoplea™s United Financial, Inc. (Nasdaq: PBCT), the holding company for Peoplea™s United Bank. In the proposed transaction, Danvers Bancorp shareholders may elect to receive either $23.00 in cash or 1.624 shares of Peoplea™s United Financial stock share. The proposed transaction has a total value of approximately $493 million and will consist of 55% stock and 45% cash.
Click here to learn how to join the action: [ http://www.zlk.com/danvers-bancorp-dnbk.html ], or call: 877-363-5972.
The investigation concerns whether the Danvers Bancorp Board of Directors breached their fiduciary duties to Danvers Bancorp stockholders by failing to adequately shop the Company before entering into this transaction and whether Peoplea™s United Financial is underpaying for Danvers Bancorp shares, thus unlawfully harming Danvers Bancorp stockholders.
If you own common stock in Danvers Bancorp 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/danvers-bancorp-dnbk.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.
