Rigrodsky & Long, P.A. Investigates Legacy Bancorp, Inc. Buyout

  • Do you own Legacy Bancorp, Inc. common stock?
  • Did you purchase your shares prior to December 22, 2010?
  • Do you feel the buyout is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of Legacy Bancorp, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Berkshire Hills Bancorp, Inc. in a transaction valued at approximately $108 million.

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Rigrodsky & Long, P.A. Investigates Legacy Bancorp, Inc. Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Legacy Bancorp, Inc. (“Legacy” or the “Company”) (Nasdaq: LEGC) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Berkshire Hills Bancorp, Inc. (Nasdaq: BHLB) (“Berkshire Hills”) in a transaction valued at approximately $108 million.

Under the proposed agreement, each outstanding share of Legacy common stock will be exchanged for 0.56385 Berkshire Hills common shares plus $1.30 in cash. As a result, 90% of the merger consideration will be in the form of Berkshire stock and 10% will be in the form of cash. This values each Legacy common share at approximately $13.00 per share based on the $20.75 average closing price of Berkshire Hill’s stock for the ten day period ending December 15, 2010.

The investigation concerns whether Legacy’s board of directors failed to adequately shop the Company and obtain the best price possible for Legacy’s shareholders before entering into the agreement with Berkshire Hills.

If you own the common stock of Legacy and purchased your shares before December 22, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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