NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Washington Banking Company ("Washington Banking" or the "Company") (WBCO) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Heritage Financial Corporation (HFWA) in a cash and stock deal valued at approximately $265.1 million. Under the terms of the proposed transaction, Washington Banking stockholders will receive 0.89000 shares of Heritage common stock and $2.75 in cash for each share of Washington Banking common stock they own.
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The investigation focuses on whether Washington Banking's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Washington Banking's shareholders.
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If you own common stock in Washington Banking Company and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ WBCO or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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