JENKINTOWN, Pa.--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that it is investigating the Board of Directors of Polonia Bancorp, Inc. (OTC: PBCP) for possible breaches of fiduciary duty and other violations of law by failing to adequately shop Polonia Bancorp to maximize shareholder value before agreeing to be acquired by Prudential Bancorp, Inc. (NASDAQ: PBIP).
If you would like to join the action, go to the firm’s website at http://rosenlegal.com/cases-917.html or contact Phillip Kim or Kevin Chan toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. There is no cost or obligation to you.
Under the terms of the proposed transaction, shareholders will receive either 0.7591 shares of Prudential Bancorp common stock or $11.28 in cash for each share of Polonia Bancorp common stock they own, subject to proration and allocation to ensure that 50% of outstanding Polonia Bancorp shares are exchanged for shares of Prudential Bancorp common stock and 50% are exchanged for cash. The proposed transaction is valued at approximately $38.1 million. The investigation relates to whether the proposal is fair to the public shareholders of Polonia Bancorp and whether Polonia Bancorp’s Board breached its fiduciary duties in connection with the proposed sale.
If you currently own shares of Polonia Bancorp and wish to obtain additional information, please visit the firm’s website at http://rosenlegal.com/cases-917.html. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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