WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Clifton Bancorp, Inc. (“CSBK” or the “Company”) (NASDAQ: CSBK) in connection with the proposed acquisition of the Company by Kearny Financial Corp. (“KRNY”) (NASDAQ: KRNY). Under the terms of the acquisition agreement, the Company’s shareholders will receive 1.191 shares of KRNY for each CSBK share they hold, representing consideration of $17.56 per CSBK share based on KRNY’s November 2 closing price.
WeissLaw is investigating whether CSBK’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $18.00 per CSBK share. Additionally, the per-share consideration offers CSBK shareholders virtually no premium over the Company’s October 31 closing price of $17.03.
Given these facts, WeissLaw is investigating whether CSBK’s shareholders will obtain their fair and proportionate share of the Company’s continued success and future growth prospects. If you own CSBK 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 email@example.com.
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 firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/clifton-bancorp-inc/