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SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Provident Bancorp, Inc. (Nasdaq - PVBC)

1. Brodsky & Smith is investigating potential claims against PVBC's Board. 2. Investigation focuses on possible breaches of fiduciary duty during sale to NBBK. 3. Stockholders can choose between shares of NBBK or cash compensation. 4. Concerns raised about whether the sale provides fair value to shareholders. 5. Legal ramifications could influence investor confidence in PVBC.

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FAQ

Why Bearish?

The investigation indicates potential governance issues, which can negatively affect stock value.

How important is it?

Shareholder lawsuits can precipitate market reactions and reduce stock confidence.

Why Short Term?

Immediate market reaction may ensue as investors assess fiduciary duty concerns.

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BALA CYNWYD, Pa., June 06, 2025 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Provident Bancorp, Inc. (“Provident” or the “Company”) (Nasdaq - PVBC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to NB Bancorp, Inc. (“Needham”) (Nasdaq – NBBK). Under the terms of the stock and cash transaction, stockholders of Provident will receive for each share of Provident common stock, at the holder's election, either (i) 0.691 shares of Needham common stock or (ii) $13.00 in cash subject to allocation procedures. The investigation concerns whether the Provident Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the consideration provides fair value to the Company’s shareholders. If you own shares of Provident stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, visit https://www.brodskysmith.com/cases/provident-bancorp-inc-nasdaq-pvbc/, or call toll free 855-576-4847. Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

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