NEW YORK, May 20, 2013 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of CFS Bancorp
Inc. ("CFS" or the "Company") (NasdaqGM: CITZ) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to First Merchants
Corporation (NasdaqGS: FRME).
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Click here to learn more about the investigation
http://zlk.9nl.com/cfs-bancorp-citz/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, CFS shareholders will
receive 0.65 shares of First Merchants Corporation stock for each
share of CFS stock they own, representing a value of approximately
$10.49 per share. The transaction has
a total approximate value of $114.7
million. The investigation concerns whether the CFS Board of
Directors breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the transaction, whether First Merchants Corporation is
underpaying for CFS stock, thus unlawfully harming CFS
shareholders. In particular, at least one analyst set a price
target for CFS stock at $15.11 per
share.
If you own common stock in CFS and wish to obtain additional
information, please contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/cfs-bancorp-citz/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities
and shareholder lawsuits. The attorneys at Levi & Korsinsky
have been appointed by numerous courts throughout the country to
serve as lead counsel on behalf of shareholders in major securities
lawsuits and have successfully recovered multimillion-dollar
damages awards on behalf of investors. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP