Ryan & Maniskas, LLP Announces Investigation of Rome Bancorp Inc.
October 12 2010 - 4:20PM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/rome) is
investigating potential claims against the board of directors of
Rome Bancorp Inc. ("Rome Bancorp" or the "Company") (NASDAQ:ROME)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by Berkshire Hills Bancorp, Inc. (“Berkshire”), in a cash
and stock transaction valued at approximately $74 million.
Our investigation concerns possible breaches of fiduciary duty
and other violations of law related to approval of the transaction
by Company’s board of directors; in particular, whether the Company
undertook a fair process to obtain fair consideration for all
shareholders of Rome 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/rome.
Under the terms of the agreement, 70% of the outstanding Rome
Bancorp shares will be exchanged for Berkshire shares at a fixed
exchange ratio of 0.5658 Berkshire shares for each share of Rome
Bancorp. The remaining 30% of Rome Bancorp shares will be exchanged
for cash in the amount of $11.25 per share.
If you own shares of Rome 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/rome. 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 and Maniskas, LLP is devoted to protecting the interests
of individual and institutional investors in shareholder actions in
state and federal courts nationwide.
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