NEW YORK--(BUSINESS WIRE)--Kirby McInerney LLP is investigating potential claims against Colonial Financial Services, Inc. (“Colonial Financial” or the “Company”) (NASDAQ:COBK) concerning the proposed acquisition of the Company by Cape Bancorp, Inc. (“Cape”) (NASDAQ: CBNJ). Under the terms of the merger agreement, Colonial Financial stockholders may elect to receive either $14.50 per share in cash or 1.412 shares of Cape common stock, subject to 50% of the shares being exchanged for stock and 50% for cash, for each share of Colonial Financial common stock they own. The total transaction is valued at approximately $55 million.
The investigation concerns whether the Colonial Financial Board of Directors violated its fiduciary duties by agreeing to the proposed transaction and whether the proposed consideration adequately values the Company’s common stock.
If you are a Colonial Financial stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at email@example.com, or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.