Sterling Bancorp Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP
Investigate Sale to Provident New York
DALLAS -- April 8, 2013
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of Sterling Bancorp (“Sterling”) (NYSE: STL) to
Provident New York Bancorp for shareholders. Under the terms of the proposed
transaction valued at approximately $344 million, Sterling shareholders will
only receive 1.2625 shares of Provident for each share of Sterling stock
owned, valued at approximately $11.12 per share.
If you are an affected investor, and you want to learn more about the lawsuit
or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC,
(214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach
Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
firstname.lastname@example.org. There is no cost or fee to you.
The Sterling sale investigation centers on whether Sterling’s shareholders are
receiving adequate compensation for their shares in the buyout, whether the
transaction undervalues Sterling’s stock, and whether Sterling’s board
attempted to obtain the highest share price for all shareholders prior to
agreeing to the deal. Notably, according to Yahoo! Finance, at least one
analyst valued the true inherent price of Sterling stock at $11.50 per share.
Shareholder rights attorney Patrick Powers stated that “due to the nature of
the stock for stock transaction, the proposed sale price, the size of the deal
and other factors, we believe this transaction may undervalue Sterling’s
stock. Our proposed lawsuit will seek to ensure that shareholders are
receiving the highest share price for their shares.”
The Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
Powers Taylor, LLP
Zach Groover, 877-728-9607
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