Recent Securities Litigations
Dime Community Bancshares Inc. Common Stock (NASDAQ: DCOM)
According to the Complaint, Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered community commercial bank that was founded in 1864. Dime Community Bank is headquartered in Brooklyn, New York and operates twenty-eight banking offices located throughout Brooklyn, Queens, the Bronx, Nassau, and Suffolk Counties, New York.
This action stems from a proposed transaction announced on July 1, 2020, pursuant to which Dime Community Bancshares, Inc. will be acquired by Bridge Bancorp, Inc.
On July 1, 2020, Dime’s Board of Directors caused the Company to enter into an agreement and plan of merger with Bridge. Pursuant to the terms of the Merger Agreement, Dime’s stockholders will receive 0.648 shares of Bridge common stock for each share of Dime common stock they own.
On September 14, 2020, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.