An investigation on behalf of investors of Ocean Shore Holding Co (NASDAQ:OSHC) in connection with the proposed takeover was announced and NASDAQ:OSHC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/19/2016 -- An investigation on behalf of investors, who currently hold NASDAQ:OSHC shares, was announced concerning the takeover of Ocean Shore Holding Co by OceanFirst Financial Corp.
Investors who purchased shares of Ocean Shore Holding Co (NASDAQ:OSHC) and currently hold any of those NASDAQ:OSHC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Ocean Shore Holding Co breached their fiduciary duties owed to NASDAQ:OSHC investors in connection with the proposed acquisition.
On July 13, 2016, OceanFirst Financial Corp. and Ocean Shore Holding Co (NASDAQ:OSHC) announced that they have entered into an agreement and plan of merger pursuant to which Ocean Shore Holding Co, the holding company and parent of Ocean City Home Bank, will merge with and into OceanFirst Financial Corp., the holding company and parent of OceanFirst Bank. Ocean City Home Bank will also merge with and into OceanFirst Bank. The transaction is valued at approximately $22.47 per Ocean Shore common share or approximately $145.6 million in the aggregate.
However, the investigation concerns whether the offer is unfair to NASDAQ:OSHC stockholders. More specifically, the investigation concerns whether the Ocean Shore Holding Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On July 18, 2016, Ocean Shore Holding Co (NASDAQ:OSHC) shares closed at $21.94 per share.
Those who are current investors in Ocean Shore Holding Co shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com