Sterling Bancorp Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Provident New York
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Sterling Bancorp ("Sterling") (NYS: STL) to Provident New York Bancorp for shareholders. Under the terms of the proposed transaction valued at approximately $344 million, Sterling shareholders will only receive 1.2625 shares of Provident for each share of Sterling stock owned, valued at approximately $11.12 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Sterling sale investigation centers on whether Sterling's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Sterling's stock, and whether Sterling's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, according to Yahoo! Finance, at least one analyst valued the true inherent price of Sterling stock at $11.50 per share. Shareholder rights attorney Patrick Powers stated that "due to the nature of the stock for stock transaction, the proposed sale price, the size of the deal and other factors, we believe this transaction may undervalue Sterling's stock. Our proposed lawsuit will seek to ensure that shareholders are receiving the highest share price for their shares."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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The article Sterling Bancorp Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Provident New York originally appeared on Fool.com.
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