Morgan & Morgan Announces the Investigation of the Fairness of the Proposed Sale of Astoria Financial Corporation - AF

NEW YORK, Nov. 6, 2015 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential claims against the board of directors of Astoria Financial Corporation ("Astoria Financial" or the "Company") (NYSE: AF) concerning possible breaches of fiduciary duty and other violations of law related to the  proposed sale of the Company to New York Community Bancorp Inc. ("NYCB"). 

If you own shares of Astoria Financial and would like to learn more about the Astoria Financial shareholder investigation, you may contact Morgan & Morgan at 1(800) 732-5200 or email [email protected].

Under the terms of the transaction, shareholders of Astoria Financial will receive one share of NYCB common stock and $0.50 in cash for each share of Astoria Financial stock held.  The investigation relates to whether the proposed sale is fair to the public shareholders and if the Company's Board of Directors breached their fiduciary duties to shareholders.  The proposed deal is valued at approximately $2 billion.

About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms.  In addition to shareholder rights, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability.  All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."

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Contact:
Morgan & Morgan
Peter Safirstein, Esq.
28 West 44^th Street
Suite 2001
New York, NY  10036
1-800-732-5200
[email protected]

SOURCE Morgan & Morgan

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