Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether Coastway Bancorp, Inc. has obtained a Fair Price in its Sale to HarborOne Bancorp, Inc.

MILWAUKEE, March 15, 2018 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating the Board of Directors of Coastway Bancorp, Inc. (Nasdaq: CWAY) for possible breaches of fiduciary duty and other violations of Maryland law in connection with the sale of Coastway to HarborOne.

Click here to learn how to join the action: http://ademilaw.com/case/coastway or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

Ademi & O'Reilly, LLP alleges Coastway's long-term financial outlook is improving and yet Coastway shareholders will receive only $28.25 for each share of Coastway common stock they own.  HarborOne is well aware of Coastway's improving financial metrics and is purchasing Coastway at a substantial discount. The merger agreement unreasonably limits competing bids for Coastway by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Coastway receive and accept a superior bid. Coastway insiders, their affiliates and other major shareholders own significant voting stock, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Coastway. Our investigation centers on the conduct of Coastway's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Coastway given its current financial condition and prospects.

If you own common stock in Coastway and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or http://ademilaw.com/case/coastway.     

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi & O'Reilly, LLP

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