CKF Bancorp, Inc. Merger Litigation (OTC: CKFB.ob)
Law Office of Brodsky & Smith, LLC Announces Investigation of CKF Bancorp, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of CKF Bancorp, Inc. (“CKF” or the “Company”) (OTC – CKFB.ob- News) relating to the proposed acquisition by Kentucky First Federal Bancorp (“Kentucky First”).
Under the terms of the transaction, CKF shareholders would either receive $9.50 in cash for each share CKF stock they own, or a number of shares of Kentucky First Common Stock as determined by an agreed upon exchange ratio, or a combination of the cash consideration for 40% of the shares held and the stock consideration for 60% of the shares held. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of CKF for not acting in the Company’s shareholders' best interests in connection with the sale process to Kentucky First. The transaction may undervalue CKF as the agreed upon price is below book value and CFK stock traded at $9.75 on April 19, 2010.
If you own shares of CKF stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or by calling toll free 877-LEGAL-90.
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