The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Beacon...
June 04 2012 - 10:38AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Beacon Federal Bancorp, Inc. (“Beacon” or the “Company”) (Nasdaq:
BFED) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to
Berkshire Hills Bancorp, Inc. (“Berkshire”) (Nasdaq: BHLB).
Click here to learn how to join the action:
http://zlk.9nl.com/beacon-federal-bancorp-bfed, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Beacon shareholders will
receive either 0.92 of a Berkshire share or $20.50 per Beacon share
they own. The transaction has a total approximate value of $132
million. The investigation concerns whether the Beacon Board of
Directors breached their fiduciary duties to Beacon stockholders by
failing to adequately shop the Company before entering into this
transaction and whether Berkshire is underpaying for Beacon shares,
thus unlawfully harming Beacon stockholders.
If you own common stock in Beacon 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
http://zlk.9nl.com/beacon-federal-bancorp-bfed.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. 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 securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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