NEW YORK, June 6, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of New England Bancshares, Inc. ("New England Bancshares" or the "Company") (Nasdaq: NEBS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to United Financial Bancorp, Inc. (Nasdaq: UBNK).
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Under the terms of the transaction, New England Bancshares shareholders will receive 0.9575 of a share of United Financial Bancorp, Inc. common stock for each share of New England Bancshares stock they own, representing a value of approximately $15.49 per share. The transaction has an approximate total value of $91.0 million. The investigation concerns whether the New England Bancshares Board of Directors breached their fiduciary duties to New England Bancshares stockholders by failing to adequately shop the Company before entering into this transaction and whether United Financial Bancorp, Inc. is underpaying for New England Bancshares shares, thus unlawfully harming New England Bancshares stockholders.If you own common stock in New England Bancshares and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/new-england-bancshares-nebs. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. 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 - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP