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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of New Jersey Community Bank (OTC PINK: NJCB) to 1st Constitution Bancorp (NASDAQ: FCCY) for $1.60 in cash and 0.1333 shares of 1st Constitution Bancorp per share.
The investigation concerns whether the Board of New Jersey Community Bank breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether 1st Constitution Bancorp is underpaying for New Jersey Community Bank shares, thus unlawfully harming New Jersey Community Bank shareholders.
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