NEW YORK, Oct. 4, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Elmira Savings Bank («Elmira Savings» or the «Company») (NASDAQ: ESBK) in connection with the proposed acquisition of the Company by Community Bank System, Inc. («Community Bank») (NYSE: CBU). Under the terms of the merger agreement, the Company’s shareholders will receive $23.10 per share in cash for each share of Elmira Savings common stock that they hold. The transaction is valued at approximately $82.8 million.
If you own Elmira Savings shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
WeissLaw LLP is investigating whether (i) Elmira Savings’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $23.10 per-share merger consideration adequately compensates Elmira Savings’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP 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@example.com
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SOURCE WeissLaw LLP