SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of CMS Bancorp, Inc. And Encourages Investors To Contact The Firm For Additional Information

STEVENSON, Md.--(BUSINESS WIRE)--

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of CMS Bancorp, Inc. (“CMS” or the “Company”) CMSB relating to the proposed buyout of the Company by Putnam County Savings Bank (“Putnam”).

On September 25, 2014, CMS and Putnam announced the signing of a definitive merger agreement pursuant to which Putnam will acquire CMS in a transaction valued at approximately $25.4 million. Under the terms of the transaction, CMS shareholders are anticipated to receive $13.25 in cash for each share of CMS common stock they own. The transaction is expected to close in the first half of 2015, though CMS shareholders will most likely be asked to vote on the transaction well before that time.

The firm's investigation seeks to determine, among other things, whether CMS's Board of Directors failed to satisfy their duties to the Company's shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company's shares of common stock.

If you currently own common stock of CMS and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.