BLUE EARTH, Minn. – Shareholders claim in a class action that Wells Federal Bank’s proposed $40 million sale to Citizens Community Bancorp undervalues Wells shares and is the product of a flawed process.
The lead plaintiff is Paul Parshall. The defendants are Wells Financial Corp.; James D. Moll; Randel I. Bichler; Gerald D. Bastian; David Buesing; Richard A. Mueller; and Citizens Community Bancorp Inc.
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