Home Federal Shareholder Alert: Faruqi & Faruqi, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by Board of Home Federal Bancorp, Inc. (HOME) in Connection With the Sale of Company to Cascade Bancorp in a Cash and Stock Deal
Faruqi & Faruqi, LLP, a Leading National Securities Firm Headquartered in New York City, Is Reviewing Claims Against the Board of Directors of Home Federal Bancorp, Inc.
NEW YORK, NY--(Marketwired - Oct 30, 2013) - Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is reviewing claims against the Board of Directors of Home Federal Bancorp ("Home Federal" or the "Company") (NASDAQ: HOME) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cascade Bancorp (CACB) in a cash and stock deal valued at approximately $265.7 million. Earlier this month Home Federal announced the Company had entered into a merger agreement with Banner Corporation (BANR). The termination of this merger will cost Home Federal approximately $3 million in fees. A complaint was filed in Maryland state court.
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The complaint focuses on whether Home Federal's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Home Federal's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Home Federal Bancorp and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/HOME or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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