The Law Firm of Levi & Korsinsky, LLP Notifies Investors of
Claims of Breaches of Fiduciary Duty by the Board of Somerset Hills
Bancorp in Connection with the Sale of the Company to Lakeland
Bancorp, Inc.
NEW YORK, Jan. 30, 2013 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of Somerset Hills
Bancorp ("Somerset Hills" or the "Company") (NasdaqGM: SOMH) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Lakeland Bancorp,
Inc. (NasdaqGS: LBAI).
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Click here to learn how to join the action:
http://zlk.9nl.com/somerset-hills-bancorp/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Somerset Hills shareholders
may elect to receive either 1.1962 shares of Lakeland Bancorp
common stock or $12.00 in cash for
each share of Somerset Hills stock they own. Insiders holding
approximately 7.9% of Somerset Hills outstanding shares have agreed
to tender their shares. The investigation concerns whether the
Somerset Hills Board of Directors breached their fiduciary duties
to stockholders by failing to adequately shop the Company before
entering into this transaction and whether Lakeland Bancorp, Inc.
is underpaying for Somerset Hills, thus unlawfully harming Somerset
Hills stockholders.
If you own common stock in Somerset Hills 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 http://zlk.9nl.com/somerset-hills-bancorp/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, 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.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP