MILWAUKEE, Sept. 20, 2023 /PRNewswire/ -- Ademi LLP is investigating Cambridge (NASDAQ: CATC) for possible breaches of fiduciary duty and other violations of law in its transaction with Eastern.

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Click here to learn how to join the action https://www.ademilaw.com/case/cambridge-bancorp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

In the transaction, Cambridge stockholders are expected to receive only 4.956 shares of Eastern common stock. Eastern anticipates issuing approximately 39.4 million shares of its common stock in the merger. Based upon Eastern's $13.41 per share closing price on September 18, 2023, the transaction is valued at approximately $528 million. The transaction agreement unreasonably limits competing transactions for Cambridge by imposing a significant penalty if Cambridge accepts a competing bid. Cambridge insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Cambridge's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.

If you own Cambridge common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/cambridge-bancorp. 

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi LLP                                                                    
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

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SOURCE Ademi LLP