NEW YORK, Sept. 21, 2021 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the District of Massachusetts, Richard Savoy v. Boston Private Financial Holdings, Inc. et al, Docket No. 1:21-cv-11537, on behalf of the public common shareholders of Boston Private Financial Holdings, Inc., ("BPFH" or the "Company") who held BPFH securities as of the record date March 15, 2021 (the "Class Period"), and have been harmed by BPFH's and its board of directors' alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") regarding the acquisition of BPFH by SVB Financial Group (the "Merger").
Under the terms of the Merger, each share of BPFH common stock was canceled and converted into $2.10 in cash and 0.0228 shares of SVB Financial Group common stock (the "Merger Consideration"). The complaint alleges that the Merger Consideration harmed BPFH shareholders by providing less than the inherent value of the Company and that the Proxy Statement filed by the Company to solicit shareholder approval of the Merger misled shareholders about the Company's financials and the Merger in violation of the Exchange Act. The special meeting of BPFH stockholders to vote on the Merger was held on May 4, 2021.
If you wish to serve as lead plaintiff, you must move the Court no later than November 22, 2021. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: https://www.monteverdelaw.com/case/boston-private-financial-holdings-inc. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars for shareholders and is committed to protecting investors and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019 an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2020 Top Rated Lawyer. Our firm's recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, over the years the firm has recovered or secured over a dozen cash common funds for shareholders in mergers & acquisitions class action cases.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
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United States of America
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