Harwood Feffer LLP Announces Investigation of Astoria Financial Corporation

Nov 11, 2015, 15:09 ET from Harwood Feffer LLP

NEW YORK, Nov. 11, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Astoria Financial Corporation ("Astoria" or the "Company") (NYSE: AF) concerning the proposed acquisition of the Company by New York Community Bancorp ("NYCB").

Under the terms of the offer, the NYCB would acquire Astoria in a transaction valued at approximately $2 billion. Pursuant to the deal, Astoria stockholders would receive 1 share of NYCB and $0.50 per share of Astoria owned, currently worth a combined $16.60. According to Yahoo Finance, at least one analyst has set a target price of $20 per share for Astoria stock. 

Our investigation concerns whether the Astoria board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders. 

If you own Astoria shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Benjamin I Sachs-Michaels, Esq. Robert I. Harwood, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: bsachsmichaels@hfesq.com  Website: http://www.hfesq.com  Follow us on Twitter: @HarwoodFeffer 

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

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