Hudson Valley Holding Corp. (NYSE:HVB) Investor Investigation Over Potential Wrongdoing In Acquisition Announced

If you purchased shares of Hudson Valley Holding Corp. (NYSE:HVB) and currently hold any of those NYSE:HVB shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Hudson Valley Holding
Affected Securities: 
NYSE: HVB

November 18, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Hudson Valley Holding Corp. (NYSE:HVB), was announced concerning whether the takeover of Hudson Valley Holding Corp. by Sterling Bancorp is unfair to NYSE:HVB stockholders.

The investigation by a law firm concerns whether certain officers and directors of Hudson Valley Holding Corp. breached their fiduciary duties owed to NYSE:HVB investors in connection with the proposed acquisition.

On November 5, 2014, Sterling Bancorp (NYSE: STL) and Hudson Valley Holding Corp. (NYSE: HVB) announced they have entered into a merger agreement in a stock-for-stock transaction valued at approximately $539 million, based on the closing price of Sterling Bancorp common stock on November 4, 2014. The merger agreement calls for a fixed exchange ratio of 1.92 shares of Sterling Bancorp common stock for each share of Hudson Valley Holding Corp. common stock. Based on a closing price of $13.99 per NYSE:STL shares on November 4, 2014, investors in Hudson Valley Holding Corp. will received approximately $26.86 per NYSE:HVB share.

However, the investigation concerns whether the offer is unfair to NYSE:HVB stockholders. More specifically, the investigation concerns whether the Hudson Valley Holding Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Hudson Valley Holding Corp. (NYSE:HVB) grew from $14.75 per share in April 2013 to as high as $26.89 per share on November 13, 2014.