The Rosen Law Firm, P.A., a global investor rights firm, announces that it is investigating the Board of Directors of Oneida Financial Corp. (NASDAQ: ONFC) for possible breaches of fiduciary duty and other violations of law by failing to adequately shop Oneida Financial to maximize shareholder value before agreeing to be acquired by Community Bank System, Inc. (NYSE: CBU).

If you would like to join the action, go to or contact Phillip Kim or Kevin Chan toll-free at 866-767-3653 or via e-mail at or There is no cost or obligation to you.

Under the terms of the proposed transaction, shareholders can elect to receive 0.5635 shares of Community Bank System common stock or $20.00 in cash for each share of Oneida Financial they own. This is subject to an overall 60% stock and 40% cash split. The investigation relates to whether the proposal is fair to the public shareholders of Oneida Financial and whether Oneida Financial's Board breached its fiduciary duties in connection with the proposed sale.

If you currently own shares of Oneida Financial and wish to obtain additional information, please visit the website at You may also contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at or

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Copyright Business Wire 2010