NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased First Connecticut Bancorp, Inc. (“First Connecticut” or the “Company”) (NASDAQ:FBNK) stock prior to June 19, 2018.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of First Connecticut to People’s United Financial, Inc. (“People’s United”) (NASDAQ: PBCT). Under the terms of the transaction, First Connecticut shareholders will receive 1.725 shares of People’s United stock for each First Connecticut share they own, representing a value of approximately $32.33 per share. To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The investigation concerns whether the Board of First Connecticut breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether People’s United is underpaying for First Connecticut shares, thus unlawfully harming First Connecticut shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.