Levi & Korsinsky, LLP Investigates Washington Banking Co. For Possible Breaches Of Fiduciary Duty By Board Of Washington Banking Co. In Connection With Sale Of Company To Heritage Financial Corp.
NEW YORK, Oct. 29, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Washington Banking Co. ("Washington Banking" or the "Company") (Nasdaq: WBCO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Heritage Financial Co. ("Heritage") (Nasdaq: HFWA).
Click here to learn more about the investigation http://zlk.9nl.com/washington-banking-wbco/ , or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Washington Banking shareholders will receive 0.89 shares of Heritage common stock and $2.75 in cash for each share of Washington Banking stock they own; this represents a value of approximately $16.89 per share. The investigation concerns whether the Washington Banking Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Heritage is underpaying for Washington Banking shares. In particular, at least one analyst set a price target of $17.00 per Washington Banking share.If you own Washington Banking common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/washington-banking-wbco/ . Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut 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. 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) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP
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