Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Sterling Bancorp (STL)

  Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Sterling
  Bancorp (STL)

Business Wire

NEW YORK -- April 12, 2013

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New
York City, is investigating the Board of Directors of Sterling Bancorp
(“Sterling” or the “Company”) (NYSE: STL) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the Company to
Provident New York Bancorp (“Provident”) (NYSE: PBNY) in a stock-for-stock
deal valued at approximately $344 million. Under the terms of the proposed
transaction, Sterling’s stockholders will receive 1.2625 shares of Provident
common stock for each share of Sterling common stock they own. The
consideration to be received by Sterling’s shareholders is valued at $11.12,
based on the closing prices on April 3, 2013, the day before the announcement
of the sale, while according to Yahoo! Finance, at least one financial analyst
has set a price target of $12.50 for Sterling.

Request more information now by clicking here: www.faruqilaw.com/STL. There is
no cost or obligation to you.

The investigation focuses on whether Sterling’s Board of Directors breached
their fiduciary duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether and by how much this proposed transaction undervalues the
Company to the detriment of Sterling’s shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and
individuals in class action litigation. The firm is focused on providing
exemplary legal services in complex litigation in the areas of securities,
shareholder, antitrust and consumer litigation, throughout all phases of
litigation. The firm has an experienced trial team which has achieved
significant victories on behalf of the firm’s clients.

If you own common stock in Sterling and wish to obtain additional information
and protect your investments free of charge, please visit us at
www.faruqilaw.com/STL or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Contact:

Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330

Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible
for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior
results do not guarantee or predict a similar outcome with respect to any
future matter. We are happy to discuss your particular case.

Contact:

Faruqi & Faruqi, LLP
Juan E. Monteverde, Esq.
(877) 247-4292 or (212) 983-9330
jmonteverde@faruqilaw.com
www.faruqilaw.com/STL
 
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