1ST UNITED BANCORP, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
May 08 2014 - 1:16PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of 1st United
Bancorp, Inc. (NASDAQ GS: FUBC)?
- Did you purchase any of your shares
prior to May 8, 2014?
- Do you think the proposed buyout
price is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of 1st United
Bancorp, Inc. (“1st United” or the “Company”) (NASDAQ GS: FUBC)
regarding possible breaches of fiduciary duties and other
violations of law related to the Company’s entry into an agreement
to be acquired by Valley National Bancorp (“Valley”) (NYSE: VLY),
in a transaction valued at approximately $312 million.
Click here to learn more:
http://www.rigrodskylong.com/investigations/1st-united-bancorp-inc-fubc.
Under the terms of the agreement, public shareholders of 1st
United would receive 0.89 shares of Valley common stock for each
share of 1st United they own. Based on Valley’s closing stock price
on May 7, 2014, 1st United shareholders would have received
consideration valued at approximately $8.69 per share.
The investigation concerns whether 1st United’s board of
directors failed to adequately shop the Company and obtain the best
possible value for 1st United’s shareholders before entering into
an agreement with Valley.
If you own the common stock of 1st United and purchased your
shares before May 8, 2014, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2
Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at
(888) 969-4242; by e-mail to info@rl-legal.com, or at:
http://www.rigrodskylong.com/investigations/1st-united-bancorp-inc-fubc.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Rigrodsky & Long, P.A.Seth D. RigrodskyGina M.
Serra888-969-4242302-295-5310Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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