NEW YORK, June 17, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of SB One Bancorp (NASDAQ: SBBX) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed merger with Provident Financial Services.
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On March 12, 2020 SB One announced that it had signed an agreement to be acquired by Provident for approximately $208.9 million. Per the merger agreement SB One’s stockholders will receive 1.357 shares of Provident common stock fore each share of SB One common stock owned. The deal is scheduled to close in the third quarter of 2020.
Bragar Eagel & Squire is concerned that SB One’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for SB One’s stockholders.
If you own shares of SB One and are concerned about the proposed merger, or you’re interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at firstname.lastname@example.org or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.