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Elmira Savings Bank Investigation
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Elmira Savings Bank Investigation

We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Elmira Savings Bank (“Elmira Savings” or the “Company”) (NASDAQ: ESBK) in connection with the proposed acquisition of the Company by Community Bank System, Inc. (“Community Bank”) (NYSE: CBU).  Under the terms of the merger agreement, the Company’s shareholders will receive $23.10 per share in cash for each share of Elmira Savings common stock that they hold.  The transaction is valued at approximately $82.8 million.

WeissLaw LLP is investigating whether (i) Elmira Savings' board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $23.10 per-share merger consideration adequately compensates Elmira Savings' shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

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