An investigation on behalf of investors of Georgetown Bancorp Inc (MD) (NASDAQ:GTWN) in connection with the proposed takeover was announced and NASDAQ:GTWN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/14/2016 -- The takeover of Georgetown Bancorp Inc is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of Georgetown Bancorp Inc (MD), concerning whether the takeover of Georgetown Bancorp Inc . by Salem Five Bancorp for $26.00 per share is unfair to NASDAQ:GTWN stockholders.
Investors who purchased shares of Georgetown Bancorp Inc (MD) (NASDAQ:GTWN) and currently hold any of those NASDAQ:GTWN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Georgetown Bancorp Inc breached their fiduciary duties owed to NASDAQ:GTWN investors in connection with the proposed acquisition.
On October 6, 2106, Salem Five Bancorp, parent of Salem Five Cents Savings Bank ("Salem Five Bank") and Geo Georgetown Bancorp Inc (MD) (NASDAQ:GTWN), parent of Georgetown Bank, jointly announced that they have signed an agreement whereby Salem Five Bancorp has agreed to acquire Georgetown Bancorp, Inc. and its subsidiary Georgetown Bank. Under the terms of the agreement, shareholders of Georgetown Bancorp, Inc. will receive $26.00 in cash in exchange for each share of Georgetown Bancorp common stock.
However, the investigation concerns whether the offer is unfair to NASDAQ:GTWN stockholders. More specifically, the investigation concerns whether the Georgetown Bancorp 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.
Shares of Georgetown Bancorp Inc (MD) (NASDAQ:GTWN) closed on October 13, 2016 at $25.65 per share.
Those who are current investors in Georgetown Bancorp Inc (MD) 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