SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Hudson Valley Holding Corp. - HVB
NEW YORK, Nov. 5, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hudson Valley Holding Corp. ("Hudson Valley" or the "Company") (NYSE: HVB) (ISIN: US4441721002) (CUSIP: 444172100) concerning the proposed acquisition of by Hudson Valley by Sterling Bancorp.
Hudson Valley shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The investigation concerns whether the Hudson Valley directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed acquisition, Hudson Valley shareholders will receive a fixed exchange ratio of 1.92 shares of Sterling Bancorp stock for each share of Hudson Valley common stock they own. However, the Price to Book Value and Total Assets multiples are below the average of comparable transactions, based on a Bloomberg analysis.
Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 237
[email protected]
SOURCE Pomerantz LLP
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