NEW YORK -- (Business Wire)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered
in New York City, is investigating the Board of Directors of Somerset
Hills Bancorp (“Somerset” or the “Company”) (NasdaqGM: SOMH) for
potential breaches of fiduciary duties in connection with their conduct
related to the sale of the Company to Lakeland Bancorp, Inc. (“Lakeland
Bancorp”) (NasdaqGS: LBAI) in a cash-and-stock deal valued at
approximately $64 million. Under the terms of the proposed transaction,
Somerset’s stockholders will receive either 1.1962 shares of Lakeland
Bancorp common stock or $12.00 in cash for each share of Somerset they
own. 90% of the aggregate merger consideration will be shares of
Lakeland Bancorp common stock and 10% will be cash.
Request more information now by clicking here: www.faruqilaw.com/SOMH.There is no cost or obligation to you.
The investigation focuses on whether Somerset’s Board of Directors
breached their fiduciary duties to the Company’s stockholders by failing
to conduct an adequate and fair sales process prior to agreeing to this
proposed transaction, whether and by how much this proposed transaction
undervalues the Company to the detriment of Somerset’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors
and individuals in class action litigation. The firm is focused on
providing exemplary legal services in complex litigation in the areas of
securities, shareholder, antitrust and consumer litigation, throughout
all phases of litigation. The firm has an experienced trial team which
has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Somerset and wish to obtain additional
information and protect your investments free of charge, please visit us
or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org
or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
York, NY 10017
Attn: Juan E. Monteverde, Esq.
Free: (877) 247-4292
Phone: (212) 983-9330
Source: Faruqi & Faruqi, LLP