Somerset Hills Shareholder Alert: Briscoe Law Firm And Powers Taylor, LLP Investigate Sale To Lakeland Bancorp

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Somerset Hills Bancorp (“Somerset”) (NasdaqGM: SOMH) to Lakeland Bancorp, Inc. for shareholders. Under the terms of the proposed deal valued at approximately $64.4 million in the aggregate, Somerset shareholders will be entitled to receive either 1.1962 shares of Lakeland Bancorp common stock or $12.00 in cash, subject to proration so that 90% of the merger consideration will be shares of Lakeland Bancorp stock.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at zach@powerstaylor.com. There is no cost or fee to you.

The Somerset sale investigation centers on whether Somerset’s shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Somerset’s stock, and whether Somerset’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, “due to the proposed sale price, the significant holdings of Somerset and other factors, we believe this transaction may undervalue Somerset’s stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders.”

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.

Copyright Business Wire 2010

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