Newport Bancorp, Inc. Merger Litigation (Nasdaq: NFSB)

Law Office of Brodsky & Smith, LLC Announces Investigation of Newport Bancorp, Inc. 
 
BALA CYNWYD, March 6, 2013/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Newport Bancorp, Inc. (“Newport Bancorp” or the “Company”) (Nasdaq- NFSB-News) relating to the proposed acquisition by SI Financial Group, Inc. (“SI Financial”).  
 
Under the terms of the transaction, Newport Bancrop shareholders will receive only $17.55 per share in cash or 1.5129 shares of SI Financial for each share of Newport Bancorp stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Newport Bancorp for not acting in the Company’s shareholders' best interests in connection with the sale process to SI Financial. The focus of the investigation is whether the Newport Bancorp Board of Directors breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction. The proposed transaction is only a very slight premium above the $17.25 Newport Bancorp stock traded at on November 1, 2012. 
 
If you own shares of Newport Bancorp 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 investorrelations@brodsky-smith.com by calling toll free 877-LEGAL-90. 

To Join the Newport Bancorp, Inc. Litigation

1. Fill out this form

   Mr/Mrs/Ms --Select a title-- Mr. Mrs. Ms.

   First Name: Required

   Last Name:Required

   
   

   Address: Required

   City: Required

   State: Required Select a State AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY

   
   

   Email Address:Required

   Phone Number:Required

   
   

   Number of Shares Owned:Required

   Date purchased:

   
   

   By clicking on the submit button, I acknowledge that I have downloaded and read both the Merger Class Action Lawsuit Retainer Agreement and Class Representative Rights and Responsibilities documents, and agree to retain Brodsky & Smith, LLC to file an action against Newport Bancorp, Inc. in connection with this case. Brodsky & Smith, LLC will prosecute the action on a contingent fee basis and will advance all costs and expenses.
   

View Complaint

The complaint is unavailable at this time

Join Other Cases

Frequently Asked Questions

 

Home : All cases : Report a Fraud

FAQ's : Attorneys : Practice Areas : Contact Us : Links : Disclaimer