June 8, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Naugatuck Valley Financial Corp (NASDAQ:NVSL), was announced concerning whether the takeover of Naugatuck Valley Financial Corp by Liberty Bank at $11 per share is unfair to NASDAQ:NVSL stockholders.

The investigation by a law firm concerns whether certain officers and directors of Naugatuck Valley Financial Corp breached their fiduciary duties owed to NASDAQ:NVSL investors in connection with the proposed acquisition.

On June 3, 2015 - Liberty Bank, headquartered in Middletown, Connecticut, and Naugatuck Valley Financial Corp (NASDAQ:NVSL)), jointly announced that they have entered into an agreement for the merger of Naugatuck Valley Financial Corporation and its subsidiary, Naugatuck Valley Savings and Loan, with and into Liberty Bank. Under terms of the agreement, upon completion of the merger, each shareholder of Naugatuck Valley Financial Corp (NASDAQ:NVSL) will receive $11.00 per share in cash, giving the transaction a value of approximately $78 million.
However, the investigation concerns whether the offer is unfair to NASDAQ:NVSL stockholders. More specifically, the investigation concerns whether the Naugatuck Valley Financial 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.