Shareholder Alert: Ademi LLP investigates whether The First of Long Island Corporation has obtained a Fair Price for its Public Shareholders
Shareholder Alert: Ademi LLP investigates whether The First of Long Island Corporation has obtained a Fair Price for its Public Shareholders
PR Newswire
MILWAUKEE, Sept. 17, 2024
MILWAUKEE, Sept. 17, 2024 /PRNewswire/ -- Ademi LLP is investigating First of Long Island (Nasdaq: FLIC) for possible breaches of fiduciary duty and other violations of law in its transaction with ConnectOne.
Click here to learn how to join our investigation https://www.ademilaw.com/case/first-long-island-corporation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, First of Long Island shareholders will receive only 0.5175 shares of ConnectOne common stock for each share of First of Long Island common stock. The transaction is valued at approximately $284 million, or approximately $12.40 per First of Long Island share, based upon the closing common stock price of $23.97 for ConnectOne Bancorp as of September 4, 2024.
The transaction agreement unreasonably limits competing transactions for First of Long Island by imposing a significant penalty if First of Long Island accepts a competing bid. First of Long Island insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of First of Long Island's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own First of Long Island common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/first-long-island-corporation.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-ademi-llp-investigates-whether-the-first-of-long-island-corporation-has-obtained-a-fair-price-for-its-public-shareholders-302250556.html
SOURCE Ademi LLP
-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks