Ryan & Maniskas, LLP Announces Investigation of Newport Bancorp Inc.

Mar 07, 2013, 11:44 ET from Ryan & Maniskas, LLP

WAYNE, Pa., March 7, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/nfsb) is investigating potential claims against the board of directors of Newport Bancorp Inc. ("Newport Bancorp" or the "Company") (NASDAQ: NFSB) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to SI Financial Group, Inc. ("SI Financial").  

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Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Newport Bancorp.  For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/nfsb.   

Under the terms of the transaction, Newport Bancorp shareholders will receive only $17.55 per share in cash or 1.5129 shares of SI Financial for each share of Newport Bancorp stock they own.

If you own shares of Newport Bancorp and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/nfsb.  You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com.  For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm.  Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT:    Ryan & Maniskas, LLP Richard A. Maniskas, Esquire 995 Old Eagle School Rd., Suite 311 Wayne, PA 19087 877-316-3218 www.rmclasslaw.com/cases/nfsb rmaniskas@rmclasslaw.com

SOURCE Ryan & Maniskas, LLP