SHAREHOLDER ALERT: The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Beacon Federal Bancorp, Inc. In Connection With The Sale Of The Company To Berkshire Hills Bancorp, Inc.
NEW YORK, June 5, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Beacon Federal Bancorp, Inc. ("Beacon" or the "Company") (Nasdaq: BFED) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Berkshire Hills Bancorp, Inc. (" Berkshire") (Nasdaq: BHLB). (Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO) Click here to learn how to join the action: http://zlk.9nl.com/beacon-federal-bancorp-bfed, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, Beacon shareholders will receive either 0.92 of a Berkshire share or $20.50 per Beacon share they own. The transaction has a total approximate value of $132 million. The investigation concerns whether the Beacon Board of Directors breached their fiduciary duties to Beacon stockholders by failing to adequately shop the Company before entering into this transaction and whether Berkshire is underpaying for Beacon shares, thus unlawfully harming Beacon stockholders. If you own common stock in Beacon 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 http://zlk.9nl.com/beacon-federal-bancorp-bfed. 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
Shares of Beacon Federal Bancorp (Nasdaq:BFED) have taken a tremendous swing upward. The stock is trading at $18.83 as of 9:30 a.m. ET, 41.6% above Thursday's closing price of $13.30. Volume is at 11,520, one times the daily average of 11,300.