WILMINGTON, Del.--(BUSINESS WIRE)--
Rigrodsky & Long, P.A.:
- Do you own shares of Sterling Financial Corporation (NASDAQ CM: STSA)?
- Did you purchase any of your shares prior to September 11, 2013?
- 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 Sterling Financial Corporation (“Sterling” or the “Company”) (NASDAQ CM: STSA) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Umpqua Holdings Corporation (“Umpqua”) (NASDAQ GS: UMPQ) in a transaction valued at approximately $2.0 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/sterling-financial-corporation-stsa.
Under the terms of the agreement, public shareholders of Sterling will receive 1.671 shares of Umpqua common stock and $2.18 in cash for each share of Sterling they own. Based on Sterling’s closing stock price of $16.96 on September 11, 2013, Sterling shareholders would have received consideration valued at approximately $30.52 per share.
The investigation concerns whether Sterling’s board of directors failed to adequately shop the Company and obtain the best possible value for Sterling’s shareholders before entering into an agreement with Umpqua.
If you own the common stock of Sterling and purchased your shares before September 11, 2013, 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 Rigrodsky or Shaye Fuchs at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/sterling-financial-corporation-stsa.
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.
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