Business & Finance
Business and Finance
Business and Finance
Thu, January 27, 2011
Wed, January 26, 2011 Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Sterling Bancshares, Inc. - SBIB
NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Sterling Bancshares, Inc. (aSterlinga or the aCompanya) (NasdaqGS: SBIB) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Comerica Incorporated (aComericaa) (NYSE: CMA) for an estimated $1.03 billion. The proposed in-stock transaction offers Sterling shareholders to only receive 0.2365 share of Comerica for each share of Sterling, valuing the Company at approximately $10 a share. According to Yahoo! Finance, at least one analyst has set a price target of $10.50 per share for Sterling common stock.
Request more information now by clicking here: [ www.faruqilaw.com/SBIB ]
Whether the Sterlinga™s Board of Directors breached their fiduciary duties to Sterlinga™s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Sterlinga™s shares and by how much this proposed transaction undervalues the Company to the detriment of Sterling shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firma™s clients.
If you own common stock in Sterling and wish to obtain additional information, please visit us at [ www.faruqilaw.com/SBIB ] or contact Juan E. Monteverde, Esq. either via e-mail at [ jmonteverde@faruqilaw.com ] or by telephone at (877) 247-4292 or (212) 983-9330.
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