Rigrodsky & Long, P.A. Announces Investigation Of New England Bancshares, Inc. Buyout
June 01 2012 - 1:44PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of New
England Bancshares, Inc. (“New England Bancshares” or the
“Company”) (NASDAQ GM: NEBS) regarding possible breaches of
fiduciary duties and other violations of law related to the
Company’s entry into an agreement to be acquired by United
Financial Bancorp, Inc. (“United Financial”) (NASDAQ GS: UBNK) in a
transaction valued at approximately $91 million.
Click here to learn more:
http://www.rigrodskylong.com/investigations/new-england-bancshares-inc-nebs.
Under the terms of the proposal, each share of New England
Bancshares common stock will be converted into the right to receive
0.9575 of a share of United Financial common stock. Based on United
Financial’s closing price on May 31, 2012, this would be valued at
$13.19 per share. The investigation concerns whether New England
Bancshares’ board of directors failed to adequately shop the
Company and obtain the best possible price for New England
Bancshares’ shareholders before entering into an agreement with
United Financial.
If you own the common stock of New England Bancshares and
purchased your shares before May 31, 2012, if you have information
or would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Peter Allocco at Rigrodsky & Long,
P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York
11530 toll free at (888) 969-4242, by e-mail to
info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/new-england-bancshares-inc-nebs.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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