SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into
Possible Breaches of Fiduciary Duty by Board of Sterling Financial
Corporation In Connection With Sale Of Company to Umpqua Holdings Corp.
NEW YORK -- September 12, 2013
Levi & Korsinsky is investigating the Board of Directors of Sterling Financial
Corporation (“Sterling” or the “Company”) (NasdaqCM: STSA) for possible
breaches of fiduciary duty and other violations of state law in connection
with the sale of the Company to Umpqua Holdings Corp. (“Umpqua”) (NasdaqGS:
Click here to learn more about the investigation
http://zlk.9nl.com/sterling-financial-stsa/, or call: 877-363-5972. There is
no cost or obligation to you.
Under the terms of the transaction, Sterling shareholders will receive 1.671
shares of Umpqua common stock and $2.18 in cash for each share of Sterling
stock they own; based upon closing prices of Umpqua as of September 11, 2013,
this represents a value of $30.52 per share. The transaction has a total
approximate value of $2 billion. The investigation concerns, among other
things, whether the consideration to be paid to Sterling shareholders is
unfair, inadequate, and substantially below the fair or inherent value of
Sterling, and whether the Sterling Board is acting in Sterling shareholders’
best interests. In particular, institutional investors representing 20.8% of
the Company’s shares have already agreed to support the transaction in
exchange for the ability to designate a member to the post-merger Board of
If you own Sterling common stock and wish to obtain additional information,
please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by
telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. For more information, please
feel free to contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
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