Finkelstein Thompson LLP Announces Investigation of Sterling Financial Corporation Buyout
September 12 2013 - 2:16PM
Business Wire
The law firm of Finkelstein Thompson LLP is investigating
potential claims on behalf of shareholders of Sterling Financial
Corporation (NASDAQ: STSA) (“Sterling” or “the Company”),
concerning the Company’s proposed acquisition by Umpqua Holdings
Corporation (NASDAQ: UMPQ) (“Umpqua”). Under the terms of the
merger agreement, Sterling shareholders will receive $2.18 in cash
for each share of Sterling common stock they own, plus 1.671 shares
of Umpqua, for a total consideration of $30.52 based on Umpqua’s
closing price of $16.96 on September 11, 2013. The total
transaction is valued at approximately $2 billion.
The investigation is focused on the potential unfairness of the
consideration to shareholders, the process by which Sterling’s
Board of Directors considered the transaction, and potential
conflicts of interest among the Company’s Board members.
If you are interested in discussing your rights as a Sterling
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson’s Washington, DC offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or
co-counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
website at www.finkelsteinthompson.com. Attorney advising. Prior
results do not guarantee similar outcomes.
Finkelstein Thompson LLPRosalee B.C. Thomas, 877-337-1050
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