INVESTOR ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Suffolk Bancorp And Encourages Shareholders...
05 Luglio 2016 - 8:50PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Suffolk Bancorp (NYSE: SCNB)
(“Suffolk” or the “Company”) relating to the proposed buyout of
Suffolk by People’s United Financial, Inc.
Under the terms of the agreement, Suffolk shareholders are
anticipated to receive 2.225 shares of People’s United common stock
for each share of Suffolk common stock held. Based on People’s
United’s closing stock price on June 24, 2016, Suffolk shareholders
would have received compensation valued at approximately $33.55 per
share. The firm’s investigation seeks to determine, among other
things, whether the Company’s Board of Directors failed to satisfy
their duties to shareholders, including whether the Board
adequately pursued alternatives to the acquisition and whether the
Board obtained the best price possible for the Company’s shares of
common stock.
If you currently own common stock of Suffolk and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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version on businesswire.com: http://www.businesswire.com/news/home/20160705006072/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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