SHAREHOLDER ALERT: Weiss Law Investigates PCSB Financial Corporation

SHAREHOLDER ALERT: Weiss Law Investigates PCSB Financial Corporation

May 24, 2022 by PR Newswire

Key Facts

  • , /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.
  • 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.
  • Weiss Law 305 Broadway, 7th Floor New York, NY 10007 (212) 682-3025 (888) 593-4771 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.

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