STERLING FINANCIAL INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Sterling Financial Corporation Following Announcement of Proposed Sale of Company to Umpqua Holdings Corporation
NEW ORLEANS--(BUSINESS WIRE)-- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") announce that KSF has commenced an investigation into the Board of Directors of Sterling Financial Corporation ("Sterling" or the "Company") (NASDAQ CM: STSA) in connection with their conduct related to the sale of the Company to Umpqua Holdings Corporation ("Umpqua") (NASDAQ GS:UMPQ). Under the terms of the proposed transaction, shareholders of Sterling will receive 1.671 shares of Umpqua common stock and $2.18 in cash for each share of Sterling common stock that they own, representing an implied price per share of Sterling stock of $30.52, based on the $16.96 closing price of Umpqua shares on September 11, 2013.
KSF's investigation is focusing on whether Sterling and/or its officers and directors secured sufficient value for the shareholders of the Company, violated their fiduciary duties, and/or violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (email@example.com) or attorney Michael Palestina (firstname.lastname@example.org) toll free at 855-768-1857 or via cell phone any time at 504-236-7315.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on transactional litigation, as well as securities class action and shareholder derivative litigation. With offices in New York and Louisiana, KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Michael Palestina, Esq., 855-768-1857
or after hours via cell phone 504-236-7315
KEYWORDS: United States North America Louisiana
The article STERLING FINANCIAL INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Sterling Financial Corporation Following Announcement of Proposed Sale of Company to Umpqua Holdings Corporation originally appeared on Fool.com.
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