SHAREHOLDER ALERT: Weiss Law Investigates Wayne Savings Bancshares, Inc.

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Wayne Savings Bancshares, Inc. ("Wayne" or the "Company") (OTC: WAYN), in connection with its proposed merger with Main Street Financial Services Corp. (OTC: MSWV) ("Main Street"). Under the merger agreement, the Company's shareholders will receive 1.7446 shares of Main Street common stock for each Wayne share, representing implied per-share consideration of $32.23 based on Main Street's February 24, 2023 closing price of $19.05. Upon completion of the transaction, Main Street shareholders will own 47.5% of the combined company, and Wayne shareholders will own 52.5% of the combined company. The transaction is valued at approximately $68 million.

If you own Wayne shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslaw.co/news-and-cases/wayn 

Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7^th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
[email protected]

Weiss Law is investigating whether (i) Wayne's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Wayne shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. 

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

SOURCE Weiss Law

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