WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors ( “Board”) of Beneficial Bancorp, Inc. (“Beneficial Bancorp” or the “Company”) (NASDAQ GS: BNCL) related to the Company’s entry into an agreement to merge with WSFS Financial Corporation (“WSFS Financial”) (NASDAQ GS: WSFS) in a transaction announced on August 8, 2018 (the “Proposed Transaction”).
On August 7, 2018, the Board caused Beneficial Bancorp to enter into an agreement and plan of reorganization (the “Agreement”) with WSFS Financial. Pursuant to the terms of the Agreement, shareholders of Beneficial Bancorp will receive 0.3013 shares of WSFS Financial common stock and $2.93 in cash for each share of Beneficial Bancorp common stock.
On September 27, 2018, WSFS Financial filed a Form S-4 Registration Statement (“Registration Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction, which recommends that Beneficial Bancorp’s shareholders vote in favor of the Proposed Transaction. Rigrodsky & Long, P.A. is investigating possible violations of law related to the Registration Statement, including whether the Registration Statement omits material information with respect to the Proposed Transaction.
If you own common stock of Beneficial Bancorp and purchased any shares before August 8, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra toll-free at (888) 969-4242, by e-mail at info@rl-legal.com, or at https://www.rigrodskylong.com/offices-contact.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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