The Briscoe Law Firm, PLLC & Cash Powers Taylor, LLP Announce Shareholder Investigation into the Acquisition of Wainright Ban...

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Cash Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Wainright Bank & Trust Co. (NASDAQ: WAIN) relating to the proposed acquisition of Wainright by Eastern Bank Corporation.

The agreement, which was announced on June 29, 2010, involves an all-cash transaction valued at approximately $163 million in which Wainright shareholders will receive $19.00 for each share of Wainright common stock and common stock equivalents outstanding. The merger is expected to close in the fourth quarter 2010, and upon closing certain officers and directors of Wainright are expected to remain with Eastern Bank. As of March 31, 2010, Wainright had assets of approximately $1 billion. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Wainright for approving this transaction, whether the consideration to be received by Wainright shareholders is fair, and whether Wainright’s Board of Directors acted in the shareholders’ best interests.

If you currently own shares of Wainright and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Cash Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@cptlawfirm.com, or The Briscoe Law Firm at (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters and extensive experience managing governmental relations and strategic communications advocacy efforts in a variety of areas including telecommunications, energy, transportation, renewable energy incentives and municipal governments.

Cash Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex commercial and business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, high-profile business disputes, and shareholder derivative suits and security class actions.

Wainwright Bank (NASDAQ:WAIN)
Historical Stock Chart
From Dec 2024 to Jan 2025