Concerns Surrounding the Sale of Sterling Bancorp
The investigation into the proposed sale of Sterling Bancorp, Inc. (NASDAQ: SBT) by Kahn Swick & Foti, LLC, has sparked concern among investors. Led by former Louisiana Attorney General Charles C. Foti, Jr., this firm is examining the financial implications of the transaction.
Overview of the Proposed Sale
The sale entails Sterling Bank and Trust, F.S.B., a wholly owned subsidiary of Sterling Bancorp, being purchased by EverBank Financial Corp. for a cash amount of $261 million. EverBank intends to acquire all capital stocks of the bank from Sterling. Yet, there are lingering doubts regarding whether this figure truly represents the company’s value.
Why the Investigation Matters
Kahn Swick & Foti, LLC is investigating the fairness of the sale price and whether the processes that led to this decision were proper. The aim is to determine if shareholders are getting a fair deal or if the transaction undervalues the bank's assets.
Understanding Shareholder Rights
For investors worried that this deal fails to reflect the real worth of Sterling Bancorp, it’s crucial to consider their legal rights. With guidance from KSF, they can look into their options and get advice regarding their entitlements in light of the impending sale.
Contacting KSF for Concerns
Shareholders are encouraged to reach out to Lewis S. Kahn, Managing Partner at KSF, to voice their concerns about the transaction. KSF provides a variety of services aimed at safeguarding the rights of investors.
About Kahn Swick & Foti, LLC
Kahn Swick & Foti, LLC is a notable law firm known for advocating on behalf of investors. With partners who have extensive experience in legal consulting and investigations, the firm is dedicated to protecting the rights of those affected by potentially unjust business practices.
Frequently Asked Questions
What is the main focus of the KSF investigation?
The investigation mainly concentrates on whether the proposed sale price is fair and if the process leading to the transaction was appropriate.
Who is leading the investigation?
The investigation is spearheaded by Charles C. Foti, Jr., Esq., who is the former Attorney General of Louisiana, along with his firm, Kahn Swick & Foti, LLC.
How can shareholders express their concerns?
Shareholders can directly reach out to KSF to discuss their concerns and seek advice regarding their legal rights in relation to the sale.
What is the proposed sale price for Sterling Bancorp?
EverBank Financial Corp. has proposed to purchase Sterling Bancorp's subsidiary for $261 million in cash.
Why is the sale raising concerns among investors?
Investors are worried that the sale price may not accurately reflect the true value of Sterling Bancorp and its assets.