Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Newport Bancorp, Inc. (“Newport”) (NasdaqGM: NFSB) to SI Financial Group for shareholders. Under the terms of the proposed transaction valued at approximately $61.3 million in aggregate, Newport shareholders can elect to receive either $17.55 in cash or 1.5129 shares of SI Financial Group (subject to proration procedures) for each share of Newport stock owned.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Newport sale investigation centers on whether Newport’s shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Newport’s stock, and whether Newport’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, “Due to the proposed sale price and other factors, we believe this transaction may undervalue Newport’s stock. Our proposed lawsuit will seek to obtain the highest possible share price for all NFSB shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.