NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Oneida Financial Corp. (“Oneida”) (Nasdaq:ONFC) for potential breaches of fiduciary duties in connection with the sale of the Company to Community Bank System, Inc. for approximately $142 million in a stock or cash transaction. The Company’s stockholders can choose to receive either $20 in cash or 0.5635 shares of Community Bank for each share of Oneida common stock they own.
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The investigation focuses on whether Oneida’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Oneida’s shareholders.
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If you own common stock in Oneida and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ONFC or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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