SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary
Mar 6th 2013 12:05PM
Updated Mar 6th 2013 12:14PM
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Newport Bancorp, Inc. in Connection with the Sale of the Company to SI Financial Group, Inc.
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating the Board of Directors of Newport Bancorp, Inc. ("Newport" or the "Company") (NasdaqGM: NFSB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to SI Financial Group, Inc. ("SIFI") (NasdaqGM: SIFI).
Click here to learn how to join the action: http://zlk.9nl.com/newport-bancorp-nfsb/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Newport Bancorp shareholders may elect to receive either $17.55 in cash or 1.5129 shares of SIFI for each share of Newport Bancorp stock they own. The investigation concerns whether the Newport Bancorp Board of Directors breached their fiduciary duties to Newport Bancorp stockholders by failing to adequately shop the Company before entering into this transaction and whether SIFI is underpaying for Newport Bancorp shares, thus unlawfully harming Newport Bancorp stockholders.
If you own common stock in Newport Bancorp and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/newport-bancorp-nfsb/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America New York
The article SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Newport Bancorp, Inc. in Connection with the Sale of the Company to SI Financial Group, Inc. originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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