|[September 12, 2013]
STERLING FINANCIAL INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Sterling Financial Corporation Following Announcement of Proposed Sale of Company to Umpqua Holdings Corporation
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the
law firm of Kahn Swick & Foti, LLC ("KSF") announce that KSF has
commenced an investigation into the Board of Directors of Sterling
Financial Corporation ("Sterling" or the "Company") (NASDAQ CM: STSA) in
connection with their conduct related to the sale of the Company to
Umpqua Holdings Corporation ("Umpqua") (NASDAQ GS: UMPQ). Under
the terms of the proposed transaction, shareholders of Sterling will
receive 1.671 shares of Umpqua common stock and $2.18 in cash for each
share of Sterling common stock that they own, representing an implied
price per share of Sterling stock of $30.52, based on the $16.96 closing
price of Umpqua shares on September 11, 2013.
KSF's investigation is focusing on whetherSterling and/or its officers
and directors secured sufficient value for the shareholders of the
Company, violated their fiduciary duties, and/or violated state or
federal securities laws.
If you have information that would assist KSF in its investigation, or
would like to discuss your legal rights, you may, without obligation or
cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (email@example.com)
or attorney Michael Palestina (firstname.lastname@example.org)
toll free at 855-768-1857 or via cell phone any time at 504-236-7315.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on transactional litigation,
as well as securities class action and shareholder derivative
litigation. With offices in New York and Louisiana, KSF's lawyers have
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
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