SHAREHOLDER ALERT: Brower Piven Announces the Investigation of 1st United Bancorp, Inc. in Connection with the Proposed Sale ...
09 May 2014 - 11:00AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of 1st
United Bancorp, Inc. (“1st United” or the “Company”) (NasdaqGS:
FUBC) and other violations of state law by the board of directors
of 1st United relating to the proposed buyout of the Company by
Valley National Bancorp (“Valley”).
Under the terms of the transaction, 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 firm’s
investigation seeks to determine, among other things, whether the
Company’s board of directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into
this transaction, and whether Valley is underpaying for 1st United
shares.
If you currently own common stock of 1st United and would like
to learn more about the investigation being conducted by Brower
Piven, without cost or obligation to you, click here:
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 together have more than a
century of experience litigating securities and other class action
cases.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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