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New England Bancshares Inc. (NEBS)

(NASDAQ: NEBS)

Summary

New England Bancshares Inc. Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties by Its Board of Directors

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of New England Bancshares Inc. (“New England Bancshares” or the “Company”) (NASDAQ: NEBS) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to United Financial Bancorp, Inc. (“United Financial”) (NASDAQ: UBNK) in a cash-and-stock deal valued at about $90 million. Under the terms of the proposed transaction, New England Bancshares common stock will be converted into the right to receive 0.9575 of a share of United Financial common stock. Based on United Financial’s closing price on June 4, 2012, this values New England Bancshares common stock at $13.21 per share.

Whether New England Bancshares’ 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 the proposed transaction undervalues New England Bancshares’ shares and by how much this proposed transaction undervalues the Company to the detriment of New England Bancshares’ shareholders are the key focus of this investigation.

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    New England Bancshares Inc. (NEBS)
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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

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