|[March 07, 2013]
Finkelstein Thompson LLP Announces Investigation of Newport Bancorp, Inc.
WASHINGTON --(Business Wire)--
The law firm Finkelstein Thompson LLP is investigating potential claims
on behalf of shareholders of Newport Bancorp, Inc. (NASDAQ: NFSB)
("Newport" or "the Company"), concerning the proposed acquisition of the
Company by SI Financial Group, Inc. Under the terms of the transaction,
shareholders would receive $17.55 per share in cash or 1.5129 shares of
SI Financial Group common stock for every Newport share they own,
subject to proration procedures so that 50 percent of the outstanding
shares of Company common stock is converted into SI Financial common
stock and the balance is converted into the cash consideration. The
total value of the transaction is approximately $61.3 million.
The investigation s focused on the potential unfairness of the
consideration to shareholders, the process by which the Company's Board
of Directors considered the transaction, as well as potential conflicts
of interest among Newport's Board members.
If you are interested in discussing your rights as a Newport
shareholder, or have information relating to this investigation, please
contact Finkelstein Thompson's Washington, DC offices at (202)-337-8000
or by email at firstname.lastname@example.org.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients in
financial litigation, and has been appointed as lead or co-counsel in
dozens of shareholder class actions. Indeed, the firm has served in
leadership roles in cases that have recovered over $1 billion for
investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our website
Attorney advising. Prior results do not guarantee similar outcomes.
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