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24.05.2022 19:57
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SHAREHOLDER ALERT: Weiss Law Investigates PCSB Financial Corporation
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PR Newswire
NEW YORK, May 24, 2022
NEW YORK, May 24, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of PCSB Financial Corporation ("PCSB" or the "Company") (NASDAQ: PCSB) in connection with the proposed acquisition of the Company by Brookline Bancorp, Inc. ("Brookline") (NASDAQ: BRKL). Under the terms of the merger agreement, the Company's shareholders will receive $22.00 cash or 1.3284 shares of Brookline common stock for each share of PCSB common stock owned, subject to a maximum 60% stock/40% cash consideration mix. This implies per-share merger consideration of approximately $20.72 based on Brookline's May 23, 2022 pre-merger announcement closing price of $14.96, or total value of approximately $313 million. Using current market prices, however, the implied per-share merger consideration is approximately $17.14 based on Brookline's May 24, 2022 intraday price of $13.90 per share, or total value of approximately $200 million.
If you own PCSB shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/pcsb
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating whether (i) PCSB's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates PCSB's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law 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 stockinfo@weisslawllp.com
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SOURCE Weiss Law
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