SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Brookline Bancorp, Inc. (Nasdaq – BRKL)
BALA CYNWYD – December 16, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Brookline Bancorp, Inc. (“Brookline” or the “Company”) (Nasdaq – BRKL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the merger of the Company with Berkshire Hills Bancorp, Inc. (“Berkshire”) (NYSE – BHLB). Under the terms of the agreement, each outstanding share of Brookline common stock will be exchanged for the right to receive 0.42 shares of Berkshire common stock. As a result of the transaction and a $100 million common stock offering announced by Berkshire today to support the transaction, Berkshire shareholders will own approximately 51%, Brookline shareholders will own approximately 45%, and investors in new shares will own approximately 4% of the outstanding shares of the combined company.
The investigation concerns whether the Brookline Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company’s shareholders in the combined company.
If you own shares of Brookline stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.