NEW YORK, Oct. 18, 2013 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Home Federal Bancorp, Inc. ("Home Federal" or the "Company") (NasdaqGS: HOME) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Banner Corporation (NasdaqGS: BANR) in a cash and stock deal valued at approximately $197 million. Under the terms of the proposed transaction, Home Federal's stockholders will receive $6.04 in cash and about 0.2 shares of Banner Corporation stock for a total of roughly $13.47 based on Banner's October 4, 2013 closing price, for each share of Home Federal common stock they own.
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The investigation focuses on whether Home Federal's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Home Federal's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Home Federal and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/HOME or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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