An investigation on behalf of investors of Coastway Bancorp, Inc. (NASDAQ: CWAY) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 05/21/2018 -- An investigation was announced concerning whether the takeover of Coastway Bancorp, Inc. by HarborOne Bancorp, Inc is unfair to NASDAQ: CWAY stockholders.
Investors who purchased shares of Coastway Bancorp, Inc. (NASDAQ: CWAY) and currently hold any of those NASDAQ: CWAY shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Coastway Bancorp, Inc. breached their fiduciary duties owed to NASDAQ: CWAY investors in connection with the proposed acquisition.
On March 14, 2018, HarborOne Bancorp, Inc. (NASDAQ: HONE) and Coastway Bancorp, Inc. (NASDAQ: CWAY) announced that they have entered into an agreement under which HarborOne Bancorp, Inc. will acquire Coastway Bancorp, Inc. in an all cash transaction valued at approximately $125.6 million. Coastway Bancorp, Inc. stockholders will receive $28.25 for each share of Coastway common stock.
However, the investigation concerns whether the offer is unfair to NASDAQ: CWAY stockholders. More specifically, the investigation concerns whether the Coastway 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.
On May 18, 2018, NASDAQ: CWAY shares closed at $27.25 per share.
Those who are current investors in Coastway Bancorp, Inc. (NASDAQ: CWAY) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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