NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Gotham Bank of New York (“Gotham Bank” or the “Company”) (PINK SHEETS: GOBN) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to a subsidiary of Provident New York Bancorp (NYSE: PBNY). Under the terms of the agreement, Gotham Bank shareholders will receive a per share price equal to the sum of 125% of Gotham Bank’s adjusted tangible net worth as of a date shortly prior to the closing date and the implied exercise price of options outstanding as of the closing date, divided by the outstanding shares of Gotham Bank on the closing date assuming full exercise of outstanding options.
Click here to learn how to join the action: http://www.zlk.com/gotham-bank-new-york-gobn, or call: 877-363-5972.
The investigation concerns whether the Gotham Bank Board of Directors breached their fiduciary duties to Gotham Bank stockholders by failing to adequately shop the Company before entering into this transaction and whether Provident New York Bancorp is underpaying for Gotham Bank shares, thus unlawfully harming Gotham Bank stockholders.
If you own common stock in Gotham Bank and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.