NEW YORK, Aug. 26, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Broadway Financial Corporation (“BYFC” or the “Company”) (NASDAQ: BYFC) in connection with the proposed stock-for-stock merger of equals with CFBanc Corporation (“City First”). Under the terms of the merger agreement, City First shareholders will receive 13.626 shares of BYFC for each share of City First common stock they own. In connection with the merger, BYFC will convert into a public benefit corporation.
If you own BYFC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether BYFC’s board satisfied its fiduciary duties to its shareholders by conducting a fair and diligent process, agreeing to an equity split that provides fair value to BYFC shareholders, and whether all information regarding the process leading to the proposed transaction and valuation of the deal will be fully and fairly disclosed to BYFC shareholders.
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 firstname.lastname@example.org
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SOURCE WeissLaw LLP