PEOPLES FEDERAL BANCSHARES INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Peoples Federal Bancsha

NEW ORLEANS, Aug. 7, 2014 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Peoples Federal Bancshares, Inc. ("Peoples" or the "Company") (NASDAQ: PEOP) to Independent Bank Corp. ("Independent") (NASDAQ: INDB).  Under the terms of the proposed transaction, 60% of outstanding Peoples shares will be exchanged for Independent shares at a fixed exchange ratio of 0.5523 of an Independent share for each Peoples share and the remaining 40% of outstanding Peoples shares will be exchanged for $21.00 per share in cash. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) or associate Michael J. Palestina (michael.palestina@ksfcounsel.com) toll free at any time at 855-768-1857.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC

206 Covington St.

Madisonville, LA 70447

SOURCE Kahn Swick & Foti, LLC