SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of HV Bancorp, Inc. (Nasdaq – HVBC)

BALA CYNWYD – October 19, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of HV Bancorp, Inc. (“HVBC” or the “Company”) (Nasdaq – HVBC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to merge with Citizens Financial Services, Inc. (“CZFS”) (Nasdaq – CZFS). Under the terms of the Agreement, HVBC shareholders will have the right to elect to receive for each share of HVBC common stock either $30.50 in cash or 0.400 shares of CZFS common stock, or approximately $67.4 million in the aggregate. Elections will be subject to proration procedures whereby 80% of the shares of HVBC common stock will be exchanged for CZFS common stock and 20% of the shares of HVBC common stock will be exchanged for cash.

The investigation concerns whether the HVBC Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether CZFS is paying too little for the Company.

If you own shares of HVBC stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.