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Harwood Feffer LLP Announces Investigation of Connecticut Bank and Trust Co.

  //business-finance.news-articles.net/content/201 .. estigation-of-connecticut-bank-and-trust-co.html
  Published in Business and Finance on Thursday, October 27th 2011 at 12:07 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--Harwood Feffer LLP ([ www.hfesq.com ]) is investigating potential claims against the board of directors of Connecticut Bank and Trust Co. ("CBT" or the "Company") (NASDAQ: CTBC) concerning the proposed acquisition of the Company by Berkshire Hills Bancorp, Inc. (aBerkshirea) in a transaction valued at $30 million.

On October 25, 2011, CBT and Berkshire announced that they had entered into a definitive merger agreement pursuant to which Berkshire will acquire CBT. Under the terms of the agreement, 70 % of outstanding CBT shares will be exchanged for Berkshire shares at a fixed ratio of 0.3810 Berkshire shares for each CBT share. The remaining 30% of CBT shares will be exchanged for cash at $8.25 per share. The transaction is valued at $7.90 per CBT share based on Berkshireas average closing price of $20.35 per share for the ten days ended October 21, 2011.

Our investigation concerns whether the board of directors has breached its fiduciary duties by failing to adequately shop the Company and whether the board undertook a fair process and obtained fair consideration for CBT stockholders.

If you own CBT shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ([ http://www.hfesq.com ]) for more information about the firm.

Attorney Advertising. 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ([ www.hfesq.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter.