SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of
Investors of Somerset Hills Bancorp - SOMH
NEW YORK, Jan. 30, 2013
NEW YORK, Jan. 30, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom &
Gross LLP is investigating claims on behalf of investors of Somerset Hills
Bancorp ("Somerset Hills" or the "Company") (NASDAQ: SOMH) (ISIN:
US8347281078) (CUSIP: 834728107) concerning the proposed acquisition of
Somerset Hills by Lakeland Bancorp in a transaction valued at approximately
$64.4 million in aggregate value.
The investigation concerns whether the Somerset Hills directors are breaching
their fiduciary duties by failing to adequately shop the Company and maximize
shareholder value. Under the terms of the agreement, Somerset Hills
shareholders will be entitled to receive, at their election, either 1.1962
shares of Lakeland Bancorp common stock or $12.00 per share in cash for each
share of Somerset Hills common stock, subject to proration as described in the
Merger Agreement. However, the price to EBITDA and revenue multiples are
below those of comparable transactions.
Somerset Hills shareholders seeking more information about this acquisition
are advised to contact Robert Willoughby at email@example.com or
212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the
following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal
Technical Institute, Clearwire Corporation, Ameristar Casinos, Inc. K-Swiss,
Inc., Neptune Technologies Bioressources, Inc., BioClinica Inc., and Copano
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 75 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Contact: Robert Willoughby, Pomerantz Grossman Hufford Dahlstrom & Gross LLP,
+1-212-661-1100 ext. 237, firstname.lastname@example.org
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