Investor Inquiry: FLIC Sale to ConnectOne Under Scrutiny
Halper Sadeh LLC Launches Investigation into FLIC Sale Equity
Halper Sadeh LLC, a law firm dedicated to investor rights, is probing the fairness of The First of Long Island Corporation (NASDAQ: FLIC) sale to ConnectOne Bancorp, Inc. In this transaction, Long Island shareholders will receive 0.5175 shares of ConnectOne common stock for each share they own in Long Island. This investigation is crucial to ensure that the selling price reflects the true value of Long Island shares.
The Investigation's Focus
At the heart of Halper Sadeh's inquiry is the concern that the board may not have acted in the best interests of Long Island shareholders. The investigation is set to determine whether shareholders have received the best possible consideration during this acquisition. Questions being raised include whether the compensation from ConnectOne adequately reflects the value of Long Island's shares and if all vital information was disclosed to shareholders to make an informed decision about the merger.
Concerns Over Shareholder Rights
As part of their assessment, Halper Sadeh emphasizes the need for transparency in these types of transactions. They are particularly focused on any potential violations of federal securities laws or breaches of fiduciary duty by Long Island's board of directors. Investors deserve to know if all possible avenues for achieving maximum return have been explored and whether the decision-making process was conducted with due diligence.
Potential Outcomes of the Investigation
Should the investigation find grounds for concern, Halper Sadeh LLC will advocate for Long Island shareholders. Their efforts may lead to increased compensation for shareholders, additional disclosures regarding the merger, and overall greater clarity on the negotiation process. They operate on a contingent fee basis, meaning that investors would not incur out-of-pocket expenses for any legal fees or costs during this inquiry.
Halper Sadeh's Commitment to Investors
The firm has established itself by representing investors from across the globe who have encountered securities fraud and corporate misconduct. They have a proven track record of driving corporate reforms and securing financial recoveries for affected investors. As they investigate this potential inadequacy of the ConnectOne transaction, their priority remains ensuring fairness and accountability.
What Investors Should Know
Investors of The First of Long Island Corporation are encouraged to stay informed about their rights in light of the pending sale. Halper Sadeh LLC has invited those impacted to get in touch for further information and clarification about their legal options. Understanding each shareholder's rights is crucial, especially in scenarios involving significant corporate transactions.
Frequently Asked Questions
Why is Halper Sadeh LLC investigating the sale of FLIC?
The investigation aims to ensure that the sale of The First of Long Island Corporation to ConnectOne Bancorp is fair and that shareholders receive adequate value for their shares.
What is the basis for the investigation?
The firm is looking into possible violations of federal securities laws and breaches of fiduciary duties by the board of directors regarding the sale.
What compensation might shareholders pursue?
Shareholders may seek increased consideration in the sale price, additional disclosures about the deal, and other related relief.
How does Halper Sadeh LLC charge for their services?
They operate on a contingent fee basis, meaning clients do not pay out-of-pocket legal fees or expenses during the process.
Who can shareholders contact for more information?
Shareholders interested in learning more about their rights and options can reach out to Halper Sadeh LLC directly for assistance.
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