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The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Bancorp Rhod

^{Published on 2011-04-27 17:21:35 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Bancorp Rhode Island, Inc. (Nasdaq: BARI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Brookline Bancorp, Inc. (Nasdaq: BRKL). Under the terms of the transaction, Bancorp Rhode Island shareholders may elect to receive either $48.25 in cash or 4.686 shares of Brookline Bancorp common stock per Bancorp Rhode Island share for a total transaction value of approximately $234 million.

The investigation concerns whether the Bancorp Rhode Island Board of Directors breached their fiduciary duties to Bancorp Rhode Island stockholders by failing to adequately shop the Company before entering into this transaction and whether Brookline Bancorp, Inc. is underpaying for Bancorp Rhode Island shares.

If you own common stock in Bancorp Rhode Island and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/bancorp-rhode-island.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.