|[July 30, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Intermountain Community Bancorp In Connection With The Proposed Sale Of The Company To Columbia Banking System, Inc.
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 Intermountain Community Bancorp ("Intermountain" or the
"Company") (Nasdaq: IMCB) relating to the proposed buyout of the Company
by Columbia Banking System, Inc. ("Columbia").
Under the terms of the transaction, Intermountain shareholders will
receive 0.6426 shares of Columbia common stock and $2.2930 in cash for
each share of Intermountain stock they own, representing a value of
approximately $18.22 per share based on Columbia's closing price as of
July 2, 2014. The firm's investigation seeks to determine, among other
things, whether the Company's Board of Directors breached their
fiduciary duties by failing to maximize shareholder value before
agreeing to enter into the transaction, and whether Columbia is
underpaying for Intermountain shares.
If you currently own common stock of Intermountain 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 firstname.lastname@example.org
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.
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