SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of CMS Bancorp, Inc. And Encourages Investor...
October 15 2014 - 7:26PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of CMS Bancorp, Inc. (“CMS” or the
“Company”) (Nasdaq: CMSB) relating to the proposed buyout of the
Company by Putnam County Savings Bank (“Putnam”).
On September 25, 2014, CMS and Putnam announced the signing of a
definitive merger agreement pursuant to which Putnam will acquire
CMS in a transaction valued at approximately $25.4 million. Under
the terms of the transaction, CMS shareholders are anticipated to
receive $13.25 in cash for each share of CMS common stock they own.
The transaction is expected to close in the first half of 2015,
though CMS shareholders will most likely be asked to vote on the
transaction well before that time.
The firm’s investigation seeks to determine, among other things,
whether CMS’s Board of Directors failed to satisfy their duties to
the Company’s shareholders, including whether the board adequately
pursued alternatives to the acquisition and whether the board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of CMS and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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