NEW YORK, July 28, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Investors Bancorp, Inc. ("Investors Bancorp" or the "Company") (NASDAQ: ISBC) in connection with the proposed cash-and-stock acquisition of the Company by Citizens Financial Group, Inc. ("Citizens Financial") (NYSE: CFG). Under the terms of the merger agreement, Investors Bancorp shareholders will receive $1.46 in cash and 0.297 shares of Citizens Financial stock for each Investors Bancorp share they own, representing implied per-share merger consideration of approximately $14.62 based upon Citizens Financial's July 27, 2021 closing price of $44.32. Upon closing of the merger, former Investors Bancorp shareholders will only own approximately 14% of the combined company.
If you own Investors Bancorp shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
WeissLaw LLP is investigating whether: (i) Investors Bancorp's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Investors Bancorp's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP