The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Somerset Hil...
January 29 2013 - 1:30PM
Business Wire
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).
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.
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