NEW YORK, March 14, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Flatbush Federal Bancorp, Inc. ("Flatbush" or the "Company") (OTC: FLTB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Northfield Bancorp, Inc. (Nasdaq: NFBK). Under the terms of the agreement, Flatbush stockholders will receive 0.4748 shares of Northfield Bancorp common stock for each share of Flatbush common stock they own. This represents a value of approximately $6.50 per share of Flatbush stock, based on the average closing price of Northfield Bancorp common stock over the past 10 trading days.
Click here to learn how to join the action: http://www.zlk.com/flatbush-federal-bancorp-fltb, or call: 877-363-5972. There is no cost or obligation to you.
The investigation concerns whether the Flatbush Board of Directors breached their fiduciary duties to Flatbush stockholders by failing to adequately shop the Company before entering into this transaction and whether Northfield Bancorp, Inc. is underpaying for Flatbush shares, thus unlawfully harming Flatbush stockholders.
If you own common stock in Flatbush and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP