NEW YORK, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Valley National Bancorp (NASDAQ: VLY) breached their fiduciary duties or violated the federal securities laws in connection with the acquisition of Bank Leumi Le-Israel Corporation.
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On September 23, 2021, Valley National announced that it had entered into an agreement to acquire Leumi in a stock-plus-cash transaction. Pursuant to the merger agreement, Leumi stockholders will receive $5.08 in cash and 3.8025 shares of Valley National common stock for each share of Leumi common stock owned. The deal is scheduled to close in the first quarter of 2022.
Bragar Eagel & Squire is concerned that Valley National’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Valley National’s stockholders.
If you own shares of Valley National and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com 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, California, and South Carolina. 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.