Kirby McInerney LLP is investigating potential claims against the Board of Directors of 1st United Bancorp, Inc. (“1st United” or the “Company”) (NASDAQ:FUBC) concerning the proposed acquisition of the Company by Valley National Bancorp (“Valley”) (NYSE:VLY). Under the terms of the definitive merger agreement, 1st United stockholders will receive 0.89 of a share of Valley common stock for each share of 1st United owned, valuing the transaction at approximately $312 million.
The investigation concerns whether the 1st United Board of Directors violated its fiduciary duties by agreeing to the proposed transaction and whether the proposed consideration adequately values 1st United’s common stock.
If you are a 1st United stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.