NEW YORK, Sept. 23, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Valley National Bancorp ("Valley National" or the "Company") (NASDAQ: VLY) in connection with the Company's proposed acquisition of Bank Leumi Le-Israel Corporation ("Leumi"). Under the terms of the merger agreement, Leumi shareholders will receive 3.8025 shares of Valley National common stock and $5.08 in cash (subject to specified adjustments) for each share of Leumi common stock they own, representing implied per-share merger consideration of approximately $50.98 based upon Valley National's September 22, 2021 closing price of $12.07.
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WeissLaw LLP is investigating whether: (i) Valley National's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the deal's equity split is fair to Valley National's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]