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Levi & Korsinsky LLP Announces the Filing of a Class Action Lawsuit Against the Board of CFS Bancorp, Inc. -- CITZ

NEW YORK, Aug. 5, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky LLP has filed a class action lawsuit in the United States District Court for the Northern District of Indiana, Hammond Division (Civil Action No. 2:13-cv-00261) on behalf of all current stockholders of CFS Bancorp, Inc. (Nasdaq:CITZ) in connection with the proposed sale of the company to First Merchants Corporation (Nasdaq:FRME). The complaint alleges, among other things, that CFS Bancorp and the members of its board of directors violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rule 14a-9, as promulgated by the U.S. Securities and Exchange Commission. More specifically, the complaint alleges that the defendants have filed proxy solicitation materials with the SEC that misrepresent or omit material information regarding First Merchants Corporation's proposed acquisition of CFS Bancorp.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, Joseph Levi, at (212) 363-7500 or via email at jlevi@zlk.com, or visit http://zlk.9nl.com/cfs-bancorp/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. AT THIS TIME YOU MAY DO NOTHING AND REMAIN AN ABSENT CLASS MEMBER. YOU MAY ALSO RETAIN COUNSEL OF YOUR CHOICE.

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. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: Levi & Korsinsky LLP Joseph E. Levi, Esq. 30 Broad Street, 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972Source:Levi & Korsinsky, LLP