Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims against the Board of Directors of Central Bancorp, Inc.
(“Central Bancorp” or the “Company”) (NASDAQ: CEBK) related to the
proposed acquisition of the Company by Independent Bank Corp. The
cash-and-stock transaction is valued at approximately $54.8 million, and
involves the exchange of 60% of outstanding Central Bancorp shares for
Independent Bank Corp shares, with the remaining 40% to be purchased for
$32.00 per share in cash.
This investigation concerns whether the Board of Directors of Central
Bancorp breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the proposed
transaction, and whether the Company has disclosed all material
information to shareholders about the transaction. The Company has seen
substantial recent growth.
If you are a shareholder of Central Bancorp, if you have information or
would like to learn more about our investigation, or if you wish to
discuss these matters or have any questions concerning this announcement
or your rights or interests with respect to these matters, please
contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at
(310) 201-9150 or Toll Free at (888) 773-9224 or by email to email@example.com.
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