SHAREHOLDER ALERT: Brower Piven Announces Investigation Of Colonial Financial Services, Inc. In Connection With The Proposed Sale Of The Company To Cape Bancorp, Inc.
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Colonial Financial Services, Inc. (“Colonial Financial” or the “Company”) (NASDAQ:COBK) relating to the proposed buyout of the Company by Cape Bancorp, Inc. (“Cape Bancorp”).
On September 10, 2014, Colonial Financial and Cape Bancorp jointly announced the signing of an agreement and plan of merger pursuant to which Cape Bancorp will acquire Colonial Financial in a transaction valued at approximately $55 million. The transaction is expected to close in the first half of 2015, though Colonial Financial shareholders will most likely be asked to vote on the transaction well before that time.
Under the terms of the transaction, Colonial Financial shareholders may elect to receive either $14.50 per share in cash or 1.412 shares of Cape Bancorp for each share of Colonial Financial they own. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Cape Bancorp is underpaying for Colonial Financial shares.
If you currently own common stock of Colonial Financial and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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