Komlossy Law, P.A. Announces Investigation of Sterling Bancorp
HOLLYWOOD, Fla. -- April 8, 2013
Komlossy Law, P.A. is investigating the Board of Directors of Sterling Bancorp
(“Sterling” or the “Company”) (NYSE:STL) for possible breaches of fiduciary
duty and other violations of state law in connection with their attempt to
complete a sale of the Company to Provident New York Bancorp (“Provident”) in
a transaction valued at approximately $344 million. Pursuant to the terms of
the proposed transaction, Sterling shareholders are to receive 1.2625 shares
of Provident stock for each share of the Company. The consideration is valued
at $11.12 per share based on April 3 closing stock prices.
The investigation involves whether the Board of Directors of Sterling breached
their fiduciary duties to stockholders by failing to adequately shop the
Company before agreeing to enter into the transaction, and whether the
transaction is fair to shareholders with respect to price, process and
disclosure of all material information.
If you own Sterling stock and wish to obtain additional information about your
rights as a shareholder, or if you have information about the above
investigation, please contact Emily C. Komlossy, Esq. via email at
email@example.com or by telephone toll free at (855) 858-1233.
Komlossy Law, P.A. represents shareholders in complex litigation, including
class action and derivative litigation. Komlossy Law, P.A. may co-counsel with
another firm, or refer a case to another firm. More information is available
through the firm’s website, www.komlossylaw.com, and upon request. Emily C.
Komlossy is the attorney responsible for the content of this release.
Emily C. Komlossy, Esq.
Komlossy Law, P.A.
2131 Hollywood Boulevard, Suite 408
Hollywood, FL 33020
Attorney Advertisement. Past results do not guarantee or predict a similar
outcome with respect to any future matter.
Komlossy Law, P.A.
Emily C. Komlossy, Esq., 855-858-1233
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