April 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Chicopee Bancorp, Inc. (NASDAQ:CBNK), was announced concerning whether the takeover of Chicopee Bancorp, Inc. by Westfield Financial, Inc for a value of $20.42 per share is unfair to NASDAQ:CBNK stockholders.

The investigation by a law firm concerns whether certain officers and directors of Chicopee Bancorp, Inc. breached their fiduciary duties owed to NASDAQ:CBNK investors in connection with the proposed acquisition.

On April 04, 2016, Westfield Financial, Inc. (Nasdaq:WFD), the holding company for Westfield Bank (collectively Westfield), and Chicopee Bancorp, Inc. (NASDAQ:CBNK), the holding company for Chicopee Savings Bank, announced the signing of a definitive merger agreement whereby Chicopee will merge with and into Westfield. Under the terms of the agreement, Chicopee Bancorp, Inc. (NASDAQ:CBNK) shareholders will be entitled to receive 2.425 shares of Westfield common stock for each share of Chicopee common stock, equal to $20.42 per share, based on the closing price for Westfield common stock on April 4, 2016.

However, the investigation concerns whether the offer is unfair to NASDAQ:CBNK stockholders. More specifically, the investigation concerns whether the Chicopee Bancorp Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.