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Do you own shares of 1st United Bancorp, Inc. (NASDAQ GS: FUBC)?
Did you purchase any of your shares prior to May 8, 2014?
Do you think the proposed buyout price is too low?
Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of 1st United Bancorp, Inc. (“1st United” or the “Company”) (NASDAQ GS:
FUBC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Valley National Bancorp (“Valley”) (NYSE:
VLY), in a transaction valued at approximately $312 million.
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Under the terms of the agreement, public shareholders of 1st United would receive 0.89 shares of Valley common stock for each share of 1st United they own. Based on Valley’s closing stock price on May 7, 2014, 1st United shareholders would have received consideration valued at approximately $8.69 per share.
The investigation concerns whether 1st United’s board of directors failed to adequately shop the Company and obtain the best possible value for 1st United’s shareholders before entering into an agreement with Valley.
If you own the common stock of 1st United and purchased your shares before May 8, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to
email@example.com, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.