Sterling Financial Corporation Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP

  Sterling Financial Corporation Board of Directors Under Investigation by
  Glancy Binkow & Goldberg LLP

Business Wire

LOS ANGELES -- September 30, 2013

Glancy Binkow & Goldberg LLP is investigating potential claims against the
Board of Directors of Sterling Financial Corporation (“Sterling” or the
“Company”) (NASDAQ:STSA) related to the proposed acquisition of the Company by
Umpqua Holdings Corp. The transaction is valued at approximately $1.9 billion,
and under the terms of the agreement Sterling shareholders will receive $1.671
shares of Umpqua common stock and $2.18 in cash for each share of Sterling
common stock owned.

This investigation concerns 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 proposed transaction, and
whether the Company has disclosed all material information to shareholders
about the transaction. The Company has seen substantial recent growth. Its
share price has skyrocketed from $20.01 on November 27, 2012 to $27.72 on
September 9, 2013. Further, at least one analyst has set a target price for
the Company’s stock at $30 per share.

If you are a shareholder of Sterling, if you have information or would like to
learn more about our investigation, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA
90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by
email to shareholders@glancylaw.com. This press release may be considered
Attorney Advertising in some jurisdictions under the applicable law and
ethical rules.

Contact:

Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
310-201-9150 or 888-773-9224
shareholders@glancylaw.com
 
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