MassBank Merger litigation
MassBank Merger litigation was an action on behalf of shareholders of MassBank Corporation in connection with a proposed acquisition of MassBank by Eastern Bank Corporation. The complaint alleged, among other things, that the defendants failed to disclose adequate information to shareholders in the proxy materials to allow them to make an informed decision on the transaction and that the proposed transaction failed to maximize shareholder value. A settlement was reached providing for the inclusion of additional disclosures in a supplemental proxy statement.