NEW YORK, June 1, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Beacon Federal Bancorp, Inc. ("Beacon" or the "Company") (BFED) concerning the proposed acquisition of the Company by Berkshire Hills Bancorp Inc. ("Berkshire") in a transaction valued at approximately $132 million.
On June 1, 2012, it was announced that Beacon and Hughes have entered into a definitive agreement pursuant to which Berkshire will acquire Beacon. Under the agreement, 50% of the outstanding shares of Beacon will be exchanged for Berkshire shares at an exchange ratio of 0.92 Berkshire shares for each Beacon share, while the remaining 50% of Beacon shares will be exchanged for cash in the amount of $20.50 per share. The transaction is valued at $20.35 per Beacon share based on the closing price of Berkshire stock on May 30, 2012.
Our investigation concerns whether the Beacon board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own Beacon shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
Attorney Advertising.© 2012 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP
|06:50 AM||Jean Chatzky and RetailMeNot to Continue Educational Partnership to Promote Financial Literacy Education|
|06:45 AM||Glasgow Science Centre Features SynCardia Total Artificial Heart in $3 Million Exhibition|
|06:36 AM||RRsat Extends Distribution of Word Network to Australia, New Zealand and the Arab World|
|06:32 AM||TD Bank Group Declares Dividends|
|06:31 AM||Royalty Pharma Reduces Acceptance Condition to 50% Plus One Share|
|06:31 AM||TD Bank Group Reports Second Quarter 2013 Results|
|06:30 AM||Controversial Anti-Camera Ticket Website Puts Consumers in the Driver's Seat|
|06:30 AM||Gentherm Introduces Heated And Ventilated Chair For Global Office Furnishings Market|
|06:30 AM||OncoGenex Announces Plans for the Initiation of the Cedar™ Clinical Trial Evaluating OGX-427 in Combination with Chemotherapy in Advanced Squamous Cell Lung Cancer|
|06:30 AM||Trimble Introduces New Integrated Solution for Drilling and Piling Operations|
|06:25 AM||TD Bank Group Announces Intention to Repurchase for Cancellation up to 12 Million of its Common Shares|
|06:23 AM||Cycle Stuff Direct Looks at Cycle Fitness Nutrition|
|06:18 AM||MobileSmith 3.0 Features Enterprise App Versioning, Streamlined User Experience, Stronger Security, Training Center and More|
|06:15 AM||SPM Communications Tapped To Launch National Gluten-Free Candy Line|
|06:08 AM||Pactera Announces First Quarter 2013 Financial Results|
|06:00 AM||InspireMD's MGuard Embolic Protection Stent (EPS) Shows Lower Mortality Rate in STEMI Patients at Six Months Compared to Control Group|
|06:00 AM||Banks Flock to Financial Education to Drive Sales|
|06:00 AM||Gentherm To Present At Upcoming Investment Conferences|
|06:00 AM||BioLife Solutions Announces Presentation at 8th World Stem Cells & Regenerative Medicine Congress|
|06:00 AM||Taomee Reports Unaudited First Quarter 2013 Financial Results|
|06:00 AM||Innovative Broadcast Facilities Modification Program for Sale by ICAP Patent Brokerage|
|06:00 AM||Cheers to 12 budget-friendly summer wines at Whole Foods Market®|
|06:00 AM||PAREXEL International To Present At Jefferies Healthcare Conference|
|06:00 AM||D.C. Ranks Among Best Cities for Summer Travel in 2013, According to CardHub.com Study|
|06:00 AM||California Endowment Grant To The Pasadena Armenian Genocide Memorial|
|06:00 AM||Consumer Reports: Store Brands From Target And Walmart Top Latest Sunscreen Ratings|
|06:00 AM||SaviCorp® Announces Major Exclusive International Distribution Agreement with DynoGreen Tech, LLC to Sell DynoValve® in India, Dubai, the UAE and Other Foreign Countries|
|06:00 AM||TripAdvisor Celebrates Top Performing Hospitality Businesses With 2013 Certificate of Excellence|
|06:00 AM||Quality Reigns Supreme as Kaufmann Mercantile Turns 3|
|06:00 AM||$100 Billion Initiative Targets Africa|
|More Press Releases From PR Newswire|