NEW YORK, Feb. 28, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Community Bank ("CYHT" or the "Company") (OTC: CYHT) in connection with the proposed acquisition of the Company by CVB Financial Corp. ("CVBF") (NASDAQ: CVBF). On February 26, 2018, the Company announced a definitive agreement for CVBF to acquire all outstanding shares of CYHT in a cash-and-stock deal. Under the terms of the agreement, the Company's shareholders will receive a fixed consideration of 9.4595 shares of CVBF and $56.00 in cash for each CYHT share they own.
WeissLaw is investigating whether CYHT's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at closing CYHT shareholders will only own a meager 21.4% of the combined company.
Given these facts, WeissLaw is investigating whether CYHT's Board acted in the best interests of CYHT's public shareholders to maximize shareholder value prior to entering into the agreement. If you own CYHT shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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 or fill out the form on our website, http://www.weisslawllp.com/community-bank/
SOURCE WeissLaw LLP