BALA CYNWYD, Pa., April 6, 2013 /PRNewswire/ --Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sterling Bancorp, Inc. ("Sterling" or the "Company") (NYSE: STL) relating to the proposed acquisition by Provident New York Bancorp ("Provident").
Under the terms of the transaction, Sterling shareholders will receive only 1.2625 shares of Provident stock for each share of Sterling stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sterling for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as an analyst has set a price target for Sterling stock $11.50 per share.
If you own shares of Sterling stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com visiting http://brodsky-smith.com/561-stl-sterling-bancorp-inc.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
