Rosen Law Firm Announces Investigation of Somerset Hills Bancorp in Connection with its Sale to Lake
Rosen Law Firm Announces Investigation of Somerset Hills Bancorp in Connection with its Sale to Lakeland Bancorp, Inc. - SOMH
NEW YORK--(BUSINESS WIRE)-- The Rosen Law Firm is investigating the Board of Directors of Somerset Hills Bancorp (NAS: SOMH) for possible breaches of fiduciary duty and other violations of state law in connection with its sale to Lakeland Bancorp, Inc. (NAS: LBAI) .
If you would like to join the action please email or call Phillip Kim or Kevin Chan, toll-free, at 866-767-3653; or email at pkim@rosenlegal.com or kchan@rosenlegal.com. There is no cost or obligation to you.
Under the terms of the transaction, offered by Lakeland Bancorp, shareholders will receive either 1.1962 shares of Lakeland Bancorp common stock or $12.00 in cash, for each share of Somerset Hills Bancorp stock they own. In addition, 90% of the total merger consideration will comprise of Lakeland Bancorp common stock and 10% will be cash. The investigation relates to whether Somerset Hills Bancorp's Board breached its fiduciary duties by failing to adequately shop the Company before entering into this transaction and whether Lakeland Bancorp is underpaying for Somerset Hills Bancorp's shares; consequently unlawfully harming Somerset Hills Bancorp shareholders.
If you own Somerset Hills Bancorp common stock and wish to obtain additional information, you may contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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Phillip Kim, Esq.
Laurence Rosen, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 562-8616
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
pkim@rosenlegal.com
lrosen@rosenlegal.com
www.rosenlegal.com
KEYWORDS: United States North America New York
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The article Rosen Law Firm Announces Investigation of Somerset Hills Bancorp in Connection with its Sale to Lakeland Bancorp, Inc. - SOMH originally appeared on Fool.com.
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