NASDAQ GS
SMPL

Simplicity Bancorp, Inc.

Shareholder Corporation Litigation

Rigrodsky & Long, P.A. Announces Investigation Of Simplicity Bancorp, Inc. (NASDAQ GS: SMPL) Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Simplicity Bancorp, Inc. (“Simplicity” or the “Company”) (NASDAQ GS: SMPL) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by HomeStreet, Inc. (“HomeStreet”) (NASDAQ GS: HMST).

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. 

The investigation concerns whether Simplicity’s board of directors failed to adequately shop the Company and obtain the best possible value for Simplicity’s shareholders before entering into an agreement with HomeStreet.

If you own the common stock of Simplicity and purchased your shares before September 29, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

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