In the News

Investment Group Plans to Withhold Magyar Votes


January 25, 2010

R. Max Crane, Managing Partner of the Firm, was interviewed for a story about a bank and one of its shareholders. According to the article, “A Chatham investment group could be spoiling for a fight with Magyar Bancorp, a five-branch community bank with headquarters in New Brunswick. PL Capital LLC, which calls itself the largest outside shareholder, plans to withhold its votes for the bank’s two board nominees at the institution’s annual meeting next month.” The article also states, “PL Capital may be a minority shareholder, but ‘an act like this is typically seen as a kind of shot across the bow,’” said Crane.