NEW YORK, July 16, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of United Financial Bancorp, Inc. ("UBNK" or the "Company") (UBNK) in connection with the proposed acquisition of the Company by People's United Financial, Inc. ("PBCT") (PBCT). Under the terms of the agreement, UBNK shareholders will receive 0.875 shares of PBCT for each UBNK share they own, representing consideration of $14.53 per UBNK share based on PBCT's July 15 closing price.
If you own UBNK shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether UBNK's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the per-share offer price is $3.67 less than UBNK's 52-week high of $18.20. Additionally, according to PBCT's Chairman and CEO, "[w]ith the fourth largest deposit market share in the combined Hartford and Springfield market, a complementary array of commercial and retail capabilities and a shared legacy of community giving, [UBNK] will solidify our presence in the Central Connecticut market and strengthen our franchise in Western Massachusetts."
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances UBNK shareholder value. Specifically, WeissLaw is concerned whether UBNK's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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