Elmira Savings Bank

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ELMIRA BANK MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF ELMIRA SAVINGS BANK IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – ESBK

October 4, 2021.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Elmira Savings Bank (NASDAQ: ESBK) to Community Bank System, Inc. for $23.10 per share in cash is fair to Elmira shareholders.

The investigation concerns whether Elmira and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Elmira shareholders; (2) determine whether Community Bank is underpaying for Elmira; and (3) disclose all material information necessary for Elmira shareholders to adequately assess and value the merger consideration. On behalf of Elmira shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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