MILWAUKEE, May 24, 2022 /PRNewswire/ -- Ademi LLP is investigating PCSB (NASDAQ: PCSB) for possible breaches of fiduciary duty and other violations of law in its transaction with Brookline.
Click here to learn how to join the action: https://www.ademilaw.com/case/pcsb-financial-corporation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges PCSB's financial outlook and prospects are excellent and yet PCSB holders will receive only either $22.00 in cash consideration or 1.3284 shares of Brookline common stock for each share of PCSB common stock, subject to allocation procedures to ensure 60% of the outstanding shares of PCSB common stock will be converted to Brookline common stock. The transaction agreement unreasonably limits competing bids for PCSB by prohibiting solicitation of further bids, and imposing a significant penalty if PCSB accepts a superior bid. PCSB insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of PCSB's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for PCSB.
If you own PCSB common stock and wish to obtain additional information, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, or https://www.ademilaw.com/case/pcsb-financial-corporation.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP