MILWAUKEE, April 19, 2021 /PRNewswire/ -- Ademi LLP is investigating Sterling (NYSE: STL) for possible breaches of fiduciary duty and other violations of law in its transaction with Webster.
Click here to learn how to join the action: https://www.ademilaw.com/case/sterling-bancorp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Sterling's financial outlook is excellent and yet Sterling shareholders will receive only 0.463 of a Webster share for each share of Sterling stock they own. The merger agreement unreasonably limits competing bids for Sterling by prohibiting solicitation of further bids, and imposing a termination penalty if Sterling accepts a superior bid. Sterling insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Sterling's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Sterling.
If you own Sterling common stock and wish to obtain additional information, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, or https://www.ademilaw.com/case/sterling-bancorp.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP