The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Intermountain Community Bancorp (“Intermountain” or the
“Company”) (Nasdaq: IMCB) relating to the proposed buyout of the Company
by Columbia Banking System, Inc. (“Columbia”).
Under the terms of the transaction, Intermountain shareholders will
receive 0.6426 shares of Columbia common stock and $2.2930 in cash for
each share of Intermountain stock they own, representing a value of
approximately $18.22 per share based on Columbia’s closing price as of
July 23, 2014.
for SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Intermountain Community Bancorp In Connection With The Proposed Sale Of The Company To Columbia Banking System, Inc. investment picks