cms bancorp inc (CMSB) Key Developments
CMS Bancorp, Inc., CMS Bank and Putnam County Savings Bank Settles Deal-Related Lawsuit
Feb 3 15
CMS Bancorp Inc., among other defendants, on January 30 signed a memorandum of understanding with the plaintiffs of a putative class-action complaint filed January 14 in a Delaware court that had accused the company's directors of breaching their fiduciary duties to shareholders by agreeing to sell to Putnam County Savings Bank. The lawsuit also named CMS Bancorp unit CMS Bank, the members of CMS Bancorp's board and Putnam County Savings Bank as defendants. The complaint further alleged that the proxy statement CMS Bancorp filed Jan. 13 should have disclosed certain additional information to CMS Bancorp shareholders for them to make a fully informed decision whether to vote in support of the proposed transaction. The defendants believe the claims lack merit, a supplement to the proxy statement noted. The MOU provided for the settlement of all claims in the case. The settlement will not affect the consideration to be paid to CMS Bancorp shareholders in connection with the proposed deal or the timing of the special meeting of shareholders of CMS Bancorp to be held Feb. 12.
CMS Bancorp, Inc., Special/Extraordinary Shareholders Meeting, Feb 12, 2015
Feb 2 15
CMS Bancorp, Inc., Special/Extraordinary Shareholders Meeting, Feb 12, 2015., at 15:00 US Eastern Standard Time. Location: Crowne Plaza Hotel. Agenda: To adopt the agreement and plan of merger.
CMS Bancorp, Inc. and CMS Bank Appoints Michael Volpe as Senior Vice President and Chief Financial Officer
Oct 7 14
On October 6, 2014, the board of directors of CMS Bancorp, Inc. appointed Mr. Michael Volpe to the position of Senior Vice President and Chief Financial Officer with the company and the company’s banking subsidiary, CMS Bank. Prior to Mr. Volpe’s appointment as CFO, he served in an advisory role to the company following the unexpected passing of the company’s former CFO, Stephen E. Dowd, on August 13, 2014. Mr. Volpe’s term of office as CFO is effective October 6, 2014 and is expected to continue indefinitely through the anticipated closing of the company’s merger with Putnam County Savings Bank. Mr. Volpe has significant experience in senior financial management roles with experience in accounting, auditing, budgeting, tax, payroll, accounts payable, corporate insurance and benefit administration.
CMS Bancorp, Inc. Announces Executive Changes
Aug 15 14
CMS Bancorp, Inc. announced the demise of Stephen E. Dowd, its Chief Financial Officer (CFO). Mr. Dowd's demise was sudden, unexpected and occurred sometime late evening on August 13, 2014. Succession planning is underway and the company's Board of Directors will appoint new CFO or Acting CFO in accordance with its succession plan policy. In the interim, Mr. Ritacco will assume the functions of the CFO position on a temporary basis and delegate as appropriate until a permanent CFO or Acting CFO is appointed.
CMS Bancorp, Inc., Annual General Meeting, Sep 24, 2014
Jul 31 14
CMS Bancorp, Inc., Annual General Meeting, Sep 24, 2014., at 15:00 US Eastern Standard Time. Location: Crowne Plaza Hotel, located at 66 Hale Avenue.