An investigation on behalf of investors of State Investors Bancorp Inc (NASDAQ:SIBC) in connection with the proposed takeover was announced and NASDAQ:SIBC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/14/2015 -- An investigation on behalf of investors, who currently hold shares of State Investors Bancorp Inc (NASDAQ:SIBC), was announced concerning whether the takeover of State Investors Bancorp Inc by First NBC Bank Holding Company is unfair to NASDAQ:SIBC stockholders.
Investors who purchased shares of State Investors Bancorp Inc (NASDAQ:SIBC) and currently hold any of those NASDAQ:SIBC 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 State Investors Bancorp Inc breached their fiduciary duties owed to NASDAQ:SIBC investors in connection with the proposed acquisition.
On December 30, 2014 First NBC Bank Holding Company (NASDAQ: NBCB), the holding company for First NBC Bank, and State Investors Bancorp, Inc. (NASDAQ: SIBC), the holding company of State-Investors Bank, jointly announced the signing of a definitive agreement for First NBC Bank Holding Company to acquire State Investors by means of a merger. Under the terms of the merger agreement, shareholders of State Investors will receive $21.25 in cash for each share of State Investors stock owned by them at the effective time of the merger.
However, the investigation concerns whether the offer is unfair to NASDAQ:SIBC stockholders. More specifically, the investigation concerns whether the State Investors 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.
On January 12, 2015 shares of State Investors Bancorp Inc (NASDAQ:SIBC) closed at $20.74 per share.
Those who are current investors in State Investors Bancorp Inc (NASDAQ:SIBC) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com