Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of 1 st United Bancorp (“1 st United”) (NasdaqGS: FUBC) related to the proposed sale to Valley National Bancorp for shareholders. Under the terms of the transaction, valued at approximately $312 million, 1 st United shareholders will only receive 0.89 of a share of Valley National Bancorp for each 1 st United share owned. However, this consideration is dependent on Valley National Bancorp’s average stock price staying between $8.09 and $12.13 prior to closing.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The 1 st United investigation centers on whether 1 st United’s Board of Directors is acting in the shareholders’ best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.