Investigation into Sterling Bank Sale: Are Shareholders Protected?
Investigation of Sterling Bank's Sale to EverBank
In a significant move, Halper Sadeh LLC, a law firm dedicated to protecting investor rights, has commenced an investigation into the acquisition of Sterling Bank and Trust, F.S.B. This bank is a wholly owned subsidiary of Sterling Bancorp, Inc. (NASDAQ: SBT). The firm is scrutinizing whether the sale of Sterling Bank to EverBank Financial Corp for a reported $261 million is fair to the shareholders of Sterling Bank.
Concerns Regarding the Sale
Halper Sadeh has reached out to Sterling’s shareholders, emphasizing the need to assess their legal rights and the implications of this significant corporate transaction. The firm is questioning if Sterling's board of directors upheld their obligations under federal securities laws, potentially neglecting their duty to secure the best possible deal for shareholders. Key areas of concern include whether the value offered by EverBank reflects Sterling's true worth and if shareholders were adequately informed about the details and implications of the sale.
The Role of the Board of Directors
The investigation will explore the actions taken by Sterling's board of directors leading up to the sale, focusing on their decision-making processes. Did they engage in appropriate due diligence? Did they explore alternative offers or negotiate better terms? These are crucial aspects that will be examined in light of ensuring that shareholder interests come first.
Legal Rights and Options for Shareholders
For those concerned about their positions, Halper Sadeh LLC invites shareholders to engage with them for a deeper understanding of their legal rights. They advocate for increased consideration for shareholders and may pursue additional information regarding the sale to guarantee transparency in this transaction.
Collective Action for Shareholders
The firm’s approach could include seeking adjustments to the sale terms or instigating further negotiations based on their findings. In addition, those represented by Halper Sadeh would not incur upfront fees for legal services, as the firm operates on a contingency fee basis. This aligns with their commitment to ensuring that represented clients are only responsible for fees in successful outcomes, minimizing the financial risk for shareholders.
Halper Sadeh's Track Record
Halper Sadeh LLC has a noteworthy history in the realm of investor protection. They have successfully represented individuals globally who have been victims of securities fraud and corporate malfeasance. Their attorneys have played crucial roles in pushing for corporate reforms and have reclaimed millions of dollars for defrauded investors.
Commitment to Transparency and Justice
In the financial landscape, ensuring shareholder rights is essential for maintaining trust and integrity. The ongoing investigation into the sale of Sterling Bank is a reminder of the vigilance required from both investors and legal representatives in safeguarding these rights. Halper Sadeh remains dedicated to uncovering the truth and ensuring that every stakeholder is fairly treated in corporate transactions.
Frequently Asked Questions
What is the investigation about?
The investigation by Halper Sadeh LLC is focusing on whether the sale of Sterling Bank to EverBank is fair to shareholders.
Why is Halper Sadeh looking into this sale?
They are examining possible violations of securities laws and the fiduciary duties of Sterling's board to ensure shareholders receive proper value for their investments.
What can shareholders do if they are concerned?
Shareholders can learn more about their legal rights and possible actions by contacting Halper Sadeh LLC.
Is there any financial risk for shareholders contacting Halper Sadeh?
No, Halper Sadeh operates on a contingent fee basis, meaning shareholders do not pay upfront costs for legal representation.
What has Halper Sadeh accomplished in the past?
They have successfully recovered millions for defrauded investors and have advocated for significant corporate reforms.
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