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Classified in: Business
Subject: ATY

Coastway (CWAY) Alert: Johnson Fistel Investigates Proposed Sale of Coastway Bancorp, Inc.; Is the Deal in the Best Interest of Shareholders?

SAN DIEGO, May 18, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Coastway Bancorp, Inc. ("Coastway") (NASDAQ: CWAY) breached their fiduciary duties in connection with the proposed sale of the Company to HarborOne Bancorp, Inc. ("HarborOne") (NASDAQ: HONE).

On March 14, 2018, Coastway announced that it had signed a definitive merger agreement with HarborOne. Under terms of the deal, Coastway stockholders will receive $28.25 for each share of Coastway common stock.

The investigation concerns whether the Coastway board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Coastway shares of common stock.

A shareholder vote has been set for June 21, 2018, if you are a shareholder of Coastway and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Johnson Fistel, LLP
Jim Baker, 619-814-4471

SOURCE Johnson Fistel, LLP

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News published on 18 may 2018 at 08:48 and distributed by: