NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Peoples Federal Bancshares, Inc. (“Peoples Federal” or “the Company”) (NasdaqCM:PEOP) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Independent Bank Corp. (“Independent”) (Nasdaq:INDB). As a part of the transaction, Independent subsidiary Rockland Trust Company will acquire Peoples Federal subsidiary Peoples Federal Savings Bank.
Click here to learn more about the investigation: http://zlk.9nl.com/peoples-federal-peop, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, 60% of Peoples Federal outstanding shares will be exchanged for Independent shares at a fixed ratio of 0.5523 per Peoples Federal share, with the remaining 40% exchanged for $21.00 per share in cash. The investigation concerns whether the Board of Peoples Federal breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Independent is underpaying for Peoples Federal shares.
If you own Peoples Federal common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/peoples-federal-peop.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.