The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Stat...
29 Avril 2011 - 8:13PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
State Bancorp, Inc. (“State Bancorp” or the “Company”) (Nasdaq:
STBC) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to Valley
National Bancorp (NYSE: VLY). Under the terms of the transaction,
State Bancorp shareholders will receive one share of Valley
National Bancorp stock per each State Bancorp share they own. The
transaction has a total value of approximately $222 million.
Click here to learn how to join the action:
http://www.zlk.com/state-bancorp-stbc.html, or call:
877-363-5972.
The investigation concerns whether the State Bancorp Board of
Directors breached their fiduciary duties to State Bancorp
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Valley National Bancorp,
Inc. is underpaying for State Bancorp shares, thus unlawfully
harming State Bancorp stockholders.
If you own common stock in State Bancorp and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://www.zlk.com/state-bancorp-stbc.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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