NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Legacy Bancorp, Inc. (“Legacy”) (Nasdaq: LEGC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company and its subsidiary Legacy to Berkshire Hills Bancorp, Inc. (Nasdaq: BHLB). Under the terms of the transaction, outstanding shares of Legacy common stock will be exchanged for 0.56385 Berkshire common shares plus $1.30 cash. The transaction values Legacy stock at $13.00 per share, based on the average closing price of Berkshire’s stock for the ten day period ending December 15, 2010.
The investigation concerns whether the Legacy Board of Directors breached their fiduciary duties to Legacy stockholders by failing to adequately shop the Company before entering into this transaction and whether Berkshire is underpaying for Legacy shares.
If you own common stock in Legacy and wish to obtain additional information, please contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/legacy.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.