NEW YORK, Nov. 1, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Home Federal Bancorp, Inc. ("Home Federal" or the "Company") (Nasdaq:HOME) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Cascade Bancorp (Nasdaq:CACB). A complaint was filed in Maryland state court.
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Under the terms of the transaction, Home Federal shareholders will receive $120.8 million in cash and more than 24.3 million common shares. The claims concern whether the Home Federal Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cascade Bancorp is underpaying for Home Federal shares. Earlier this month Home Federal announced it would merge with Banner Corporation; the termination of this merger will cost Home Federal approximately $3 million in termination fees.
If you own Home Federal common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/home-federal/.
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. 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.comSource:Levi & Korsinsky, LLP