July 15, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Ocean Shore Holding Co (NASDAQ:OSHC), was announced concerning whether the takeover of Ocean Shore Holding Co by OceanFirst Financial Corp is unfair to NASDAQ:OSHC stockholders.

The investigation by a law firm concerns whether certain officers and directors of Ocean Shore Holding Co breached their fiduciary duties owed to NASDAQ:OSHC investors in connection with the proposed acquisition.

On July 13, 2016, OceanFirst Financial Corp. and Ocean Shore Holding Co (NASDAQ:OSHC) announced that they have entered into an agreement and plan of merger pursuant to which Ocean Shore Holding Co, the holding company and parent of Ocean City Home Bank, will merge with and into OceanFirst Financial Corp., the holding company and parent of OceanFirst Bank. Ocean City Home Bank will also merge with and into OceanFirst Bank. The transaction is valued at approximately $22.47 per Ocean Shore common share or approximately $145.6 million in the aggregate.

However, the investigation concerns whether the offer is unfair to NASDAQ:OSHC stockholders. More specifically, the investigation concerns whether the Ocean Shore Holding 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.

On July 15, 2016, Ocean Shore Holding Co (NASDAQ:OSHC) shares closed at $21.76 per share.