NEW YORK, June 19, 2018 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of First Connecticut
Bancorp, Inc. ("FBNK" or the "Company") (NASDAQ: FBNK) in
connection with the proposed acquisition of the Company by People's
United Bank, N.A. ("PBCT") ("NASDAQ: PBCT). Under the terms
of the agreement, FBNK shareholders will receive 1.725 shares of
PBCT for each FBNK share they own, representing consideration of
$31.55, based on PBCT June 19 trading price of $18.29.
WeissLaw is investigating whether FBNK's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, this deal is a strategic transaction which will expand
PBCT's footprint throughout Connecticut and Massachusetts. Moreover,
the Company recently announced positive financial results. It
reported net interest income of $20.9
million in the first quarter of 2018, representing increases
of $394,000 sequentially, and
$1.7 million annually.
Given these facts, WeissLaw is investigating whether FBNK's
shareholders will obtain their fair and proportionate share of the
Company's continued success and growth prospects. If you own
FBNK shares and would like more information about your rights or
our investigation, or if you have information to share with us,
please contact Joshua Rubin
by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/first-connecticut-bancorp-inc/
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SOURCE WeissLaw LLP