NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Danvers Bancorp, Inc. (Nasdaq: DNBK) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to People’s United Financial, Inc. (Nasdaq: PBCT), the holding company for People’s United Bank. In the proposed transaction, Danvers Bancorp shareholders may elect to receive either $23.00 in cash or 1.624 shares of People’s United Financial stock share. The proposed transaction has a total value of approximately $493 million and will consist of 55% stock and 45% cash.
The investigation concerns whether the Danvers Bancorp Board of Directors breached their fiduciary duties to Danvers Bancorp stockholders by failing to adequately shop the Company before entering into this transaction and whether People’s United Financial is underpaying for Danvers Bancorp shares, thus unlawfully harming Danvers Bancorp stockholders.
If you own common stock in Danvers Bancorp 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/danvers-bancorp.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.