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STERLING BANCORP MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF STERLING BANCORP IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – STL
April 19, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Sterling Bancorp (NYSE: STL) to Webster Financial Corporation is fair to Sterling Bancorp shareholders. Under the terms of the merger, Sterling Bancorp shareholders will receive a fixed exchange ratio of 0.463 of a Webster share for each share of Sterling Bancorp stock they own.
The investigation concerns whether Sterling Bancorp and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Sterling Bancorp shareholders; (2) determine whether Webster Financial is underpaying for Sterling Bancorp; and (3) disclose all material information necessary for Sterling Bancorp shareholders to adequately assess and value the merger consideration. On behalf of Sterling Bancorp shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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