BOULDER, Colo., Nov. 24, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating the officers and directors of Financial Federal Corporation ("Financial Federal" or the "Company") (NYSE:FIF) for possible breaches of fiduciary duty and other violations of state law in connection with an agreement by the Company's Board of Directors to sell all of the Company's outstanding shares of common stock to People's United Financial, Inc. ("People's United") (Nasdaq:PBCT).
The stock and cash transaction is valued at approximately $738 million, or $27.74 per Financial Federal Share.
The current investigation concerns the price to be paid by People's United to Financial Federal shareholders and the process by which Financial Federal's Board of Directors is addressing the transaction. Under the terms of the proposed transaction, Financial Federal's shareholders will receive $11.27 in cash and one share of People's United common stock, for total per share consideration of approximately $27.74 per Financial Federal share, based on the closing price of People's United common stock on November 20, 2009. The focus of the current investigation is on whether the Financial Federal Board of Directors breached its fiduciary duties to the Company's shareholders by agreeing to sell the Company at an unfair price. If you are interested in discussing your rights as a Financial Federal shareholder, or have information relating to this investigation, please contact Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Glenn at rusty@shumanlawfirm.com. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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