Hudson City Bancorp Investor Alert: The Briscoe Law Firm & Powers Taylor, LLP Investigate Hudson City Bancorp, Inc. Sale to M...
August 27 2012 - 10:24AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Hudson City Bancorp, Inc.
(“Hudson City”) (NASDAQ: HCBK) to M&T Bank Corporation for
shareholders. Under the proposed transaction, Hudson City/HCBK
shareholders will receive 0.08403 of an M&T share for each HCBK
share owned. Based upon M&T’s Friday closing price, HCBK
shareholders will receive approximately $7.22 per share, well below
at least one analyst’s estimated value of $7.50 per HCBK share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement involves a transaction with a
total equity value of approximately $3.7 billion.
The investigation centers on whether Hudson City shareholders
are receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues Hudson City stock, and whether
Hudson City’s board attempted to obtain the highest share price for
all shareholders prior to agreeing to the deal. At least one
analyst with Yahoo! Finance has estimated that the true inherent
value of the stock is as high as $7.50 per share, well above the
proposed price. According to shareholder rights attorney Willie
Briscoe, “Because of the lack of a significant premium to the
shareholders, and other factors, we believe that the transaction
may undervalue Hudson City stock. Our lawsuit will seek to obtain
the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Hudson City Bancorp (NASDAQ:HCBK)
Historical Stock Chart
From Sep 2024 to Oct 2024
Hudson City Bancorp (NASDAQ:HCBK)
Historical Stock Chart
From Oct 2023 to Oct 2024