WILMINGTON, Del., May 8, 2014 /PRNewswire/ -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of 1st United Bancorp, Inc. ("United" or the "Company") (NASDAQ: FUBC) relating to the sale of the Company to Valley National Bancorp (NYSE: VLY) ("Valley National"). On May 8, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Valley National will acquire United in a merger valued at roughly $312 million. As a result of the merger, United shareholders are only anticipated to receive 0.89 shares of Valley National common stock in exchange for each share of United share they own.
Based on our investigation, the 0.89 shares of Valley National that United shareholders are expected to receive is unfair given that Valley National's stock price has continued on a downward spiral, trading as high as $10.80 per share on April 24, 2014 and closing yesterday at $9.76 per share.
Andrews & Springer is investigating whether United directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by United.
If you own shares of United and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/united or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising. SOURCE Andrews & Springer LLC
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