WAYNE, Pa., Oct. 1, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Simplicity Bancorp, Inc. ("Simplicity" or the "Company") (NASDAQ: SMPL) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to HomeStreet, Inc. ("HomeStreet").

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If you own shares of Simplicity and would like to learn more about this class action or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/smpl. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com.

Under the terms of the 100% stock agreement, Simplicity stockholders are expected to receive one share of HomeStreet common stock for each share owned of Simplicity common stock, subject to adjustment if HomeStreet's closing stock price during a specified measurement period prior to closing is more than $20 or less than $15 per share.

Our investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Simplicity for not acting in the Company's shareholders' best interests in connection with the sale process.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.

CONTACT: Ryan & Maniskas, LLP

Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087

877-316-3218

www.rmclasslaw.com/cases/smpl

rmaniskas@rmclasslaw.com

SOURCE Ryan & Maniskas, LLP