INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Home Federal Bancorp, Inc. (HOME) Over the Proposed Sale of the Company to Cascade Bancorp (CACB)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Home Federal Bancorp (“Home Federal” or the “Company”) (HOME) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cascade Bancorp (CACB) in a cash and stock deal valued at approximately $265.7 million. Earlier this month Home Federal announced the Company had entered into a merger agreement with Banner Corporation (BANR). The termination of this merger will cost Home Federal approximately $3 million in fees.
The investigation focuses on whether Home Federal’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Home Federal’s shareholders.
If you own common stock in Home Federal Bancorp and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.