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The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Sterling Ban

^{Published on 2011-01-20 07:15:17 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Offices of Vincent Wong are investigating the Board of Directors of Sterling Bancshares, Inc. (Nasdaq: SBIB) for possible breaches of fiduciary duty and other violations of state law in connection with a proposed acquisition by Comerica Incorporated (aComericaa) (NYSE: CMA). Under the terms of the deal, each outstanding share of Sterling common stock will be exchanged for 0.2365 shares of Comerica common stock in a transaction that values Sterling stock at approximately $10.00 per share for a total transaction value of approximately $1.03 billion.

The investigation concerns whether the Sterling Board of Directors breached their fiduciary duties to Sterling stockholders by failing to adequately shop the Company before entering into this transaction and whether Comerica is underpaying for Sterling shares.

If you own common stock in Sterling and wish to obtain additional information, please contact Vincent Wong, Esq. either via email [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/sterlingbancshares.html ].

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.