NEW YORK, July 16, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of United
Financial Bancorp, Inc. ("UBNK" or the "Company") (NASDAQ: UBNK) in
connection with the proposed acquisition of the Company by People's
United Financial, Inc. ("PBCT") (NASDAQ: PBCT). Under the
terms of the agreement, UBNK shareholders will receive 0.875 shares
of PBCT for each UBNK share they own, representing consideration of
$14.53 per UBNK share based on PBCT's
July 15 closing price.
If you own UBNK shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our website
http://www.weisslawllp.com/united-financial-bancorp-inc/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether UBNK's Board acted to
maximize shareholder value prior to entering into the merger
agreement. Notably, the per-share offer price is $3.67 less than UBNK's 52-week high of
$18.20. Additionally, according
to PBCT's Chairman and CEO, "[w]ith the fourth largest deposit
market share in the combined Hartford and Springfield market, a complementary array of
commercial and retail capabilities and a shared legacy of community
giving, [UBNK] will solidify our presence in the Central Connecticut market and strengthen our
franchise in Western
Massachusetts."
Given these facts, WeissLaw is concentrating its investigation
on whether the merger enhances UBNK shareholder value.
Specifically, WeissLaw is concerned whether UBNK's Board conducted
a fair process in agreeing to the proposed merger, whether the
proposed merger undervalues the Company, and whether all material
information related to the proposed merger is fully and fairly
disclosed.
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
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SOURCE WeissLaw LLP