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The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of 1st United Bancorp, Inc. (“1st United” or the “Company”) (NasdaqGS: FUBC) and other violations of state law by the board of directors of 1st United relating to the proposed buyout of the Company by Valley National Bancorp (“Valley”).
Under the terms of the transaction, 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 firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Valley is underpaying for 1st United shares.
If you currently own common stock of 1st United and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, click here:
You may also request more information by contacting Brower Piven either by email at
firstname.lastname@example.org or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.