Shareholders Foundation, Inc.

1st United Bancorp Inc (Florida) (NASDAQ:FUBC) Investor Alert: Investigation of Takeover by Valley National Bancorp

An investigation on behalf of investors of 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) in connection with the proposed takeover was announced and NASDAQ:FUBC stockholders should contact the Shareholders Foundation.

 
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San Diego, CA -- (SBWIRE) -- 05/12/2014 -- An investigation on behalf of investors, who currently hold shares of 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) shares, was announced concerning whether the takeover of 1st United Bancorp Inc by Valley National Bancorp is unfair to NASDAQ:FUBC stockholders.

Investors who purchased shares of 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) and currently hold any of those NASDAQ:FUBC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of 1st United Bancorp Inc breached their fiduciary duties owed to NASDAQ:FUBC investors in connection with the proposed acquisition.

On May 8, 2014 the Boards of Directors of Valley National Bancorp (NYSE: VLY) and 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) announced that the companies have entered into a merger agreement whereby the common shareholders of 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) will receive 0.89 of a share of Valley National Bancorp (NYSE: VLY) common stock for each 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) share they own, subject to adjustment in the event Valley's average stock price falls below $8.09 or rises above $12.13 prior to closing. Based on a closing price of Valley National Bancorp (NYSE: VLY) of $9.83 per share on May 5, 2014 shareholders of 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) will receive approximately $8.75 per share.

However, the investigation concerns whether the offer is unfair to NASDAQ:FUBC stockholders. More specifically, the investigation concerns whether the 1st United Bancorp Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

1st United Bancorp Inc reported that its annual Net Income increased from $1.60 million in 2010 to $6.87 million in 2013. Shares of 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) grew from $4.68 per share in September 2011 to as high as $8.16 per share in April 2014.

On May 8, 2014, NASDAQ:FUBC shares closed at $7.99 per share.

Those who are current investors in 1st United Bancorp Inc (Florida) (NASDAQ:FUBC) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com