Jefferson Bancshares, Inc. Merger Litigation (Nasdaq: JFBI)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Jefferson Bancshares, Inc. - JFBI
BALA CYNWYD, January 24, 2014 /PR News) –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Jefferson Bancshares, Inc. (“Jefferson” or the “Company”) (Nasdaq –JFBI-News) relating to the proposed acquisition by HomeTrust Bancshares, Inc. (“HomeTrust”).
Under the terms of the transaction, Jefferson shareholders will receive only $4.00 per share in cash and $4.00 in HomeTrust stock for each share of Jefferson stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Jefferson for not acting in the Company’s shareholders' best interests in connection with the sale process. The investigation seeks to determine if the Jefferson Board of Directors failed to conduct an adequate auction process and if HomeTrust is underpaying for Jefferson. The total aggregate transaction consideration is only $51.2 million and Jefferson has approximately $498 million in combined assets.
If you own shares of Jefferson common 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 firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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