Somerset Hills Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Lakeland Bancorp
30 Januar 2013 - 4:02PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Somerset Hills Bancorp
(“Somerset”) (NasdaqGM: SOMH) to Lakeland Bancorp, Inc. for
shareholders. Under the terms of the proposed deal valued at
approximately $64.4 million in the aggregate, Somerset shareholders
will be entitled to receive either 1.1962 shares of Lakeland
Bancorp common stock or $12.00 in cash, subject to proration so
that 90% of the merger consideration will be shares of Lakeland
Bancorp stock.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, please contact Willie Briscoe
at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at
WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at zach@powerstaylor.com.
There is no cost or fee to you.
The Somerset sale investigation centers on whether Somerset’s
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Somerset’s
stock, and whether Somerset’s board attempted to obtain the highest
share price for all shareholders prior to agreeing to the deal.
According to shareholder rights attorney Willie Briscoe, “due to
the proposed sale price, the significant holdings of Somerset and
other factors, we believe this transaction may undervalue
Somerset’s stock. Our proposed lawsuit will seek to obtain the
highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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