SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Hud...
August 27 2012 - 11:00PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Hudson City Bancorp, Inc. (“Hudson City” or the “Company”)
(NasdaqGS: HCBK) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to M&T Bank Corp. (NYSE: MTB).
Click here to learn more about the investigation:
http://zlk.9nl.com/hudson-city-bancorp-hcbk/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Hudson City shareholders may
elect to receive a consideration valued at 0.08403 of an M&T
Bank Corp. share in either cash or stock for each Hudson City share
they own, a value of approximately $7.22 a share. This represents
an approximate transaction value of $3.7 billion. The investigation
concerns whether the Hudson City Board of Directors breached their
fiduciary duties to Hudson City stockholders by failing to
adequately shop the Company before entering into this transaction
and whether M&T Bank Corp. is underpaying for Hudson City
shares, thus unlawfully harming Hudson City stockholders. In
particular, Hudson City has a reported Book Value of $9.39 per
share for the most recent quarter.
If you own common stock in Hudson City and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/hudson-city-bancorp-hcbk/.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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