Shareholder Alert: Ademi LLP investigates whether Elmira Savings Bank has obtained a Fair Price in its transaction with Community Bank

MILWAUKEE, Oct. 4, 2021 /PRNewswire/ -- Ademi LLP is investigating Elmira (Nasdaq: ESBK), for possible breaches of fiduciary duty and other violations of law in its transaction with Community Bank.

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

Ademi LLP alleges Elmira's financial outlook and prospects are excellent and yet Elmira shareholders will receive only $23.10 for each share of common stock they own representing total consideration valued at approximately $82.8 million. The merger agreement unreasonably limits competing bids for Elmira by prohibiting solicitation of further bids, and imposing a significant penalty if Elmira accepts a superior bid. Elmira insiders will receive substantial benefits as part of change of control arrangements. We are investigating the conduct of Elmira's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Elmira.

If you own Elmira common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/elmira-savings-bank.                     

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 LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi LLP