BALA CYNWYD, Pa., July 29, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Intermountain Community Bancorp ("Intermountain" or the "Company") (Nasdaq –IMCB -News) relating to the proposed acquisition by Columbia Banking System, Inc. ("Columbia").
Click here to learn more about the investigation http://brodsky-smith.com/800-imcb-intermountain-community-bancorp.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Intermountain shareholders will receive only 0.6426 of a Columbia share and $2.2930 in cash for each share of Intermountain stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Intermountain for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue Intermountain and will result in a loss for many long-term holders of Intermountain stock. In addition, the premium being paid is below that in comparable transactions and on July 23, 2014, Intermountain announced strong second quarter results.
If you own shares of Intermountain common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [email protected], by visiting http://brodsky-smith.com/800-imcb-intermountain-community-bancorp.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC