Sterling Bancshares, Inc. Merger Litigation (Nasdaq: SBIB)
Law Office of Brodsky & Smith, LLC Announces Investigation of Sterling Bancshares, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sterling Bancshares, Inc. (“Sterling” or the “Company”) (Nasdaq - SBIB - News) relating to the proposed acquisition by Comerica, Inc. (NYSE – CMA – News) in a transaction valued at approximately $1.03 billion.
Under the terms of the offer, Sterling shareholders would receive 0.2365 shares of common stock of Comerica, Inc. in exchange for each share of Sterling common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sterling by not acting in Sterling shareholders' best interests in connection with the sale process to Comerica, Inc. and whether the Company was adequately shopped before entering into the transaction
If you own shares of Sterling and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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