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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches
Levi & Korsinsky is investigating the Board of Directors of Sterling Bancshares, Inc. (“Sterling” or the “Company”) (Nasdaq: SBIB) for possible breaches of fiduciary duty and other violations of state law in connection with a proposed acquisition by Comerica Incorporated (“Comerica”) (NYSE: CMA).
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24/01/2011
New York, NY, January 24, 2011 -- Levi & Korsinsky is investigating the Board of Directors of Sterling Bancshares, Inc. (“Sterling” or the “Company”) (Nasdaq: SBIB) for possible breaches of fiduciary duty and other violations of state law in connection with a proposed acquisition by Comerica Incorporated (“Comerica”) (NYSE: CMA). Under the terms of the transaction, each outstanding share of Sterling common stock will be exchanged for 0.2365 shares of Comerica common stock upon closing. The transaction values Sterling stock at approximately $10.00 per share for a total transaction value of approximately $1.03 billion.
The investigation concerns whether the Sterling Board of Directors breached their fiduciary duties to Sterling stockholders by failing to adequately shop the Company before entering into this transaction and whether Comerica is underpaying for Sterling shares, thus unlawfully harming Sterling stockholders.
If you own common stock in Sterling and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/sterling-bancshares.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St.
15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com
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