NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED COMMON STOCK OF ONEIDA FINANCIAL CORP. (“Oneida” or “the Company”) PRIOR TO FEBRUARY 25, 2015 AND CONTINUE TO HOLD SUCH SHARES.
YOU ARE HEREBY NOTIFIED that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Oneida to Community Bank System, Inc. (NYSE: CBU). Click here to learn more about the investigation: http://zlk.9nl.com/oneida-financial-onfc. There is no cost or obligation to you.
The Board of Directors of Oneida (NASDAQ: ONFC) agreed to sell the Company to Community Bank System (NYSE: CBU). Under the terms of the transaction, Oneida shareholders may elect to receive 0.5635 shares of Community Bank System stock or $20.00 in cash for each share of Oneida stock they own. The investigation concerns whether the Board of Oneida breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Community is underpaying for Oneida shares.
If you own Oneida common stock 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 visit http://zlk.9nl.com/oneida-financial-onfc.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.