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WeissLaw LLP Investigates Beneficial Bancorp, Inc.

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WeissLaw LLP Investigates Beneficial Bancorp, Inc.

PR Newswire

NEW YORK, Aug. 9, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Beneficial Bancorp, Inc. ("BNCL" or the "Company") (NASDAQ:BNCL) in connection with the proposed acquisition of the Company by WSFS Financial Corporation ("WSFS") (NASDAQ:WSFS).  Under the terms of the acquisition agreement, BNCL shareholders will be entitled to receive $2.93 in cash and 0.3013 of a WSFS share for each BNCL share they own, representing consideration of $18.08 based on WSFS' August 9 trading price. 

WeissLaw is investigating whether BNCL's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the acquisition is a financially compelling transaction which will propel WSFS into leadership position in the community banking sector.  According to the announcement, the acquisition of BNCL as a wholly owned subsidiary of WSFS will create "the largest, premier, locally-headquartered community bank for the Greater Delaware Valley."  WSFS will gain "distinct market-share advantages," doubling its footprint with the addition of BNCL's 61 bank offices, and establishing a presence in Pennsylvania and southern New Jersey. 

Given these facts, WeissLaw is investigating whether BNCL's Board acted in the best interests of BNCL's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own BNCL shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.  

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 stockinfo@weisslawllp.com or fill  out the form on our website, http://www.weisslawllp.com/beneficial-bancorp-inc/ 

 

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SOURCE WeissLaw LLP

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