The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Danvers Bancorp, Inc. in Connection with the Sale of the Company to People’s United Financial, Inc. – DNBK

NEW YORK--()--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 vw@wongesq.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.

Contacts

The Law Offices of Vincent Wong
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212-584-2740
Fax. 866-367-6510
E-Mail: vw@wongesq.com

Release Summary

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

Contacts

The Law Offices of Vincent Wong
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212-584-2740
Fax. 866-367-6510
E-Mail: vw@wongesq.com