WeissLaw LLP investigating possible breaches of fiduciary duty.
NEW YORK: WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of First Connecticut Bancorp, Inc. in connection with the proposed acquisition of the Company by People's United Bank, N.A.
WeissLaw is investigating whether FBNK's shareholders will obtain their fair and proportionate share of the Company's continued success and growth prospects. If you own FBNK shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
Under the terms of the agreement, FBNK shareholders will receive 1.725 shares of PBCT for each FBNK share they own, representing consideration of $31.55, based on PBCT June 19 trading price of $18.29. WeissLaw is investigating whether FBNK's Board acted to maximize shareholder value prior to entering into the agreement. Notably, this deal is a strategic transaction which will expand PBCT's footprint throughout Connecticut and Massachusetts. Moreover, the Company recently announced positive financial results. It reported net interest income of $20.9 million in the first quarter of 2018, representing increases of $394,000 sequentially, and $1.7 million annually.
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|Publication:||Daily the Pak Banker (Lahore, Pakistan)|
|Date:||Jul 3, 2018|
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