SHAREHOLDER ALERT: Brower Piven Announces Class Action Lawsuit in Connection With the Sale of Simplicity Bancorp, Inc. -- SMPL


STEVENSON, Md., Oct. 22, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the California Superior Court, Los Angeles County, on behalf of all common stockholders of Simplicity Bancorp, Inc. ("Simplicity" or the "Company") (Nasdaq:SMPL) opposing the proposed acquisition of Simplicity by HomeStreet, Inc. ("HomeStreet").

The complaint arises out of the an announcement that Simplicity had entered into a definitive merger agreement with HomeStreet, pursuant to which Simplicity shareholders will receive one share of HomeStreet common stock for each share owned of Simplicity common stock, subject to adjustment if HomeStreet's closing stock price during a specified measurement period prior to closing is more than $20 or less than $15 per share.

The complaint seeks relief on behalf of the named plaintiff and all other similarly situated shareholders of Simplicity and asserts whether the Company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value and/or protect the interests of Simplicity shareholders.

If you currently own common stock of Simplicity and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.



            

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