NEW YORK, Oct. 26, 2011 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of The
Connecticut Bank and Trust Company ("CBT" or the "Company")
(NASDAQ: CTBC) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to Berkshire Hills Bancorp, Inc. (NASDAQ: BHLB). Under the
terms of the transaction, CBT shareholders may elect to receive
either 0.3810 Berkshire shares or
$8.25 in cash per CBT share they own.
The transaction is valued at $7.90 per CBT share, and has a total transaction
value of approximately $30
million.
Click here to learn how to join the action:
http://zlk.9nl.com/connecticut-bank-trust/, or call:
877-363-5972.
The investigation concerns whether the CBT Board of Directors
breached their fiduciary duties to CBT stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Berkshire Hills Bancorp, Inc. is underpaying for CBT
shares, thus unlawfully harming CBT stockholders.
If you own common stock in CBT and wish to obtain additional
information, please contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or
http://www.zlk.com/connecticut-bank-trust-ctbc.html.
Levi & Korsinsky is a national firm with offices in
New York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information,
please feel free to contact any of the attorneys listed below.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP