Faruqi & Faruqi, LLP Investigates Potential Breaches of Fiduciary Duty by the Board of Directors of Smithtown Bancorp

Faruqi & Faruqi, LLP, a leading New York securities firm, is investigating the Board of Directors of Smithtown Bancorp (“Smithtown” or the “Company”) (NasdqGS: SMTB) by People's United Financial, Inc. (NasdaqGS: PBCT) (parent of People’s United Bank). Under the terms of the transaction, Smithtown shareholders will receive $4.00 cash for each share they own.

The investigation concerns whether the Smithtown Board of Directors breached their fiduciary duties to Smithtown stockholders by failing to conduct an open auction sales process to sell the Company before entering into this transaction and whether PBCT is underpaying for Smithtown shares to the detriment of Smithtown 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, through 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 Smithtown and wish to obtain additional information, please visit us at http://www.faruqilaw.com/merger.php or contact Juan E. Monteverde, Esq. either via email at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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Smithtown Bancorp (MM) (NASDAQ:SMTB)
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から 5 2024 まで 6 2024