NEW YORK, March 13, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of United Community Bancorp ("UCBA" or the "Company") (NASDAQ: UCBA) in connection with the proposed acquisition of the Company by Civista Bancshares, Inc. ("CIVB") (NASDAQ: CIVB). Under the terms of the acquisition agreement, the Company's shareholders will be entitled to receive $2.54 in cash and 1.027 shares of CIVB for each share of UCBA they own.
WeissLaw is investigating whether UCBA's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the acquisition is a deliberate and financially compelling deal that offers CIVB numerous benefits, including:
- Improved footprint in the 5 largest marketplaces in Ohio;
- Entrance into the Cincinnati Metropolitan Services Area with access to UCBA's five area branches; and
- Increased scale and growth acceleration.
Finally, the transaction is expected to be immediately accretive to earnings per share in 2018.
Given these facts, WeissLaw is investigating whether UCBA's shareholders will obtain their fair and proportionate share of the Company's continued success and growth prospects. If you own UCBA shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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@example.com or fill out the form on our website, http://www.weisslawllp.com/united-community-bancorp/.
SOURCE WeissLaw LLP