NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against ServBanc Holdco, Inc. (“ServBanc Holdco”), as successor in interest to IF Bancorp, Inc. (“IF Bancorp” or the “Company”) (NASDAQ: IROQ), the members of IF Bancorp’s board of directors (the “Board”), and ServBank, National Association (“ServBank, N.A.”).
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws. The claims arise in connection with the Board’s solicitation of IF Bancorp shareholders to vote in favor of a merger transaction (the “Merger”)—based on false representations of the consideration shareholders would receive—pursuant to which IF Bancorp merge with and into ServBanc Holdco. Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/IROQ.
ServBanc Case Details
The Complaint alleges that, in connection with IF Bancorp’s merger with ServBanc Holdco, Defendants caused the Company to issue a materially false and misleading proxy statement that, among other things:
| (1) | overstated the value and likelihood of the consideration to be received by shareholders, including a purported $27.20 per-share merger price and the possibility of a special dividend tied to certain tangible common equity thresholds; | ||
| (2) | failed to disclose that, due to a required $13.99 million loan renewal and an associated reserve that would be imposed as a condition of ServBanc Holdco’s approval, there was no meaningful likelihood that IF Bancorp’s tangible common equity would meet the threshold necessary to avoid a downward adjustment or to trigger any special dividend; | ||
| (3) | misled shareholders regarding the true amount and likelihood of the consideration they would receive, when in reality the merger consideration was expected to be reduced to approximately $26.40 per share and any additional contingent payment was uncertain and dependent on future loan repayment; and | ||
| (4) | as a result, Defendants’ statements were materially false and misleading at all relevant times, depriving shareholders of the ability to cast a fully informed vote, inducing them to approve the Merger and forgo appraisal rights, and causing them to receive less than the fair value of their shares. | ||
What’s Next for ServBanc Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/IROQ. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you held shares as of February 3, 2026, you have until June 29, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
No Cost to ServBanc Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for ServBanc Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace,” said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Contact Info
Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | info@bgandg.com
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