MILWAUKEE, Nov. 4, 2021 /PRNewswire/ -- Ademi LLP is investigating Partners (Nasdaq: PTRS), for possible breaches of fiduciary duty and other violations of law in its transaction with OceanFirst.
Click here to learn how to join the action: https://www.ademilaw.com/case/partners-bancorp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Partners' financial outlook and prospects are excellent and yet Partners shareholders will have the option to receive either $10.00 in cash or 0.4512 shares of OceanFirst common stock. The merger agreement provides that only up to 40% of Partners common stock will be exchanged for cash and the remaining shares exchanged for OceanFirst common stock, subject to proration. The merger agreement unreasonably limits competing bids for Partners by prohibiting solicitation of further bids, and imposing a significant penalty if Partners accepts a superior bid. Partners insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Partners' board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Partners.
If you own Partners 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/partners-bancorp.
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
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