Gainey McKenna & Egleston Announces that It Filed a Class Action Lawsuit Against SI Financial Group, Inc. (SIFI) And Its Directors
NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it filed a class action lawsuit against SI Financial Group, Inc. (“SIFI” or the “Company”) (Nasdaq: SIFI) and its board of directors (the “Board”), on behalf of a proposed class consisting of all public stockholders of Celgene in connection with alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that on December 11, 2018, SIFI and Berkshire Hills Bancorp, Inc. (“BHBI” or “Purchaser”) entered into an Agreement and Plan of Merger (the “Merger Agreement”). Pursuant to the Merger Agreement: (i) SIFI will merge with and into BHBI, with BHBI surviving the merger (the “BHBI Merger”), and (ii) the separate corporate existence of SIFI shall cease (the “Proposed Transaction”).
The Complaint also alleges on January 4, 2019, in order to convince SIFI’s public common stockholders to vote in favor of the Proposed Transaction, BHBI filed a materially incomplete and misleading Form S-4 Registration Statement (the “Proxy”) with the SEC, in violation of Sections 14(a) and 20(a) of the Exchange Act.
The Complaint also alleges that the Proxy contains materially incomplete and misleading information concerning the valuation analyses prepared by the Company’s financial advisor, Keefe, Bruyette & Woods, Inc. (“KBW”), in support of their fairness opinion.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the April 30, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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