SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of CFS Bancorp Inc. in Connection with the Sale of the Company to First Merchants Corporation
NEW YORK, May 20, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of CFS Bancorp Inc. ("CFS" or the "Company") (NasdaqGM: CITZ) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to First Merchants Corporation (NasdaqGS: FRME).
Click here to learn more about the investigation http://zlk.9nl.com/cfs-bancorp-citz/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, CFS shareholders will receive 0.65 shares of First Merchants Corporation stock for each share of CFS stock they own, representing a value of approximately $10.49 per share. The transaction has a total approximate value of $114.7 million. The investigation concerns whether the CFS Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, whether First Merchants Corporation is underpaying for CFS stock, thus unlawfully harming CFS shareholders. In particular, at least one analyst set a price target for CFS stock at $15.11 per share.
If you own common stock in CFS and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/cfs-bancorp-citz/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP