Law Firm Brower Piven Announces Investigation of Somerset Hills Bancorp

  Law Firm Brower Piven Announces Investigation of Somerset Hills Bancorp

Business Wire

STEVENSON, Md. -- January 31, 2013

The securities litigation firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary duty to
current shareholders of Somerset Hills Bancorp (“Somerset” or the “Company”)
(Nasdaq: “SOMH”) and other violations of state law by the board of directors
of Somerset relating to the proposed acquisition of the Company by Lakeland
Bancorp, Inc. (“Lakeland”). The firm’s investigation seeks to determine, among
other things, whether the board of directors of Somerset breached their
fiduciary duties by failing to maximize shareholder value.

Under the terms of the proposed transaction, Somerset shareholders will
receive, at their election, either 1.1962 shares of Lakeland common stock or
$12.00 in cash for each share of Somerset common stock they own. According to
Bloomberg, the EBIT and net income multiples for the proposed transaction are
below those of comparable transactions.

If you currently own common stock of Somerset and would like to learn more
about the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to answer
your questions. You may contact Brower Piven by email at
hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.

Contact:

Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com
 
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