Faruqi & Faruqi, LLP Seeks To Protect Investors With Over $1 Million Invested In Hudson City Bancorp, Inc. In Connection With Its Potential Sale
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Hudson City Bancorp, Inc. (“Hudson City” or the “Company”) (NASDAQ: HCBK) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to M&T Bank Corporation (“M&T”) (NYSE: MTB) in a deal valued at approximately $3.7 billion. Under the terms of the proposed transaction, Hudson City’s stockholders will receive 0.08403 of an M&T share in the form of either M&T stock or cash. The transaction values the proposed consideration at approximately $7.74 based on today’s close, while according to Yahoo! Finance, at least one financial analyst has set a price target of $8.75 for Hudson City.
Whether Hudson City’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Hudson City’s shares and by how much this proposed transaction undervalues the Company to the detriment of Hudson City’s shareholders are the key focus of this investigation.
If you own common stock in Hudson City and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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Tel: (212) 983-9330
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