Business & Finance
Business and Finance
Business and Finance
Mon, April 25, 2011
Sat, April 23, 2011
Fri, April 22, 2011 Briscoe Law Firm Investigates Bancorp Rhode Island, Inc. for Shareholders Concerning Acquisition by Brookline Bancorp, Inc.
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of Bancorp Rhode Island, Inc. (aBancorp Rhode Islanda or aBARIa) (NASDAQ: BARI) related to the proposed buyout of Bancorp Rhode Island by Brookline Bancorp, Inc.
The definitive merger agreement, which was announced on April 20, 2011, involves a stock and cash transaction valued at approximately $234 million. Under the proposed buyout, Bancorp Rhode Island shareholders will receive either $48.25 in cash or a fixed ratio of 4.686 shares of Brookline Bancorp for each share of Bancorp Rhode Island common stock they hold. The transaction is expected to close in the fourth quarter of 2011.
The firms are investigating the fairness of the proposed transaction to Bancorp Rhode Island shareholders and whether Bancorp Rhode Islanda™s Board of Directors acted in the shareholdersa™ best interests. Although the acquisition price represents a premium above the closing price of Bancorp Rhode Island shares prior to the announcement, the firms are investigating whether the price offered to Bancorp Rhode Island shareholders is adequate. The firms are also investigating whether Bancorp Rhode Islanda™s Board of Directors adequately considered all viable alternatives and properly shopped the company before entering into the acquisition agreement.
If you currently own shares of Bancorp Rhode Island/BARI and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
