NEW YORK, April 20, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Sterling Bancorp (NYSE: STL) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Webster Financial Corporation (NYSE: WBS).
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On April 19, 2021, Sterling announced that it had signed an agreement to be acquired by Webster for approximately $5.14 billion. Pursuant to the merger agreement, Sterling stockholders will receive 0.463 shares of Webster common stock for each share of Sterling common stock owned. The deal is scheduled to close in the fourth quarter of 2021.
Bragar Eagel & Squire is concerned that Sterling’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Sterling’s stockholders.
If you own shares of Sterling and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com