LOS ANGELES, June 09, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises IF Bancorp, Inc., (“IF Bancorp” or the “Company”) (NASDAQ: IROQ) investors of a class action on behalf of investors that held securities as of February 3 , 202, inclusive (the “Class Period”). IF Bancorp investors have until June 29, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/if-bancorp-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising
