Briscoe Law Firm Investigates Legacy Bancorp for Shareholders Concerning the Acquisition by Berkshire Hills Bancorp

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor LLP are investigating the proposed acquisition of Legacy Bancorp, Inc. (“Legacy Bancorp” or “LEGC”) (NASDAQ: LEGC) by Berkshire Hills Bancorp, Inc. (“Berkshire Hills”) (NASDAQ: BHLB) for shareholders. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Legacy Bancorp for approving this transaction, whether Legacy Bancorp’s Board of Directors acted in the shareholders’ best interests, and whether the transaction provides fair value and adequate disclosures to the shareholders.

The definitive merger agreement, which was announced on December 21, 2010, involves a stock-for-stock transaction valued at approximately $108 million in which Legacy Bancorp shareholders will receive a fixed ratio of 0.56385 shares of Berkshire Hills common stock and $1.30 in cash in exchange for each share of Legacy Bancorp/LEGC common stock they hold. The acquisition price reportedly represents a value of $13.00 per share to Legacy Bancorp shareholders, based on Legacy Bancorp’s average share closing price for the ten-day period ending December 15, 2010. In early 2010, Legacy Bancorp shares closed at nearly $10.00 per share. “Legacy Bancorp shares have risen over the past 45 days, and based on the low premium offered to the shareholders, and other factors, we do not believe that the acquisition adequately values Legacy Bancorp shares,” said shareholder rights attorney Willie Briscoe.

If you currently own shares of Legacy Bancorp/LEGC and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder derivative suits, and security class actions.