NEW YORK, April 26, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Flagstar Bancorp, Inc. («Flagstar» or the «Company») (NYSE: FBC) in connection with the proposed acquisition of the Company by New York Community Bancorp, Inc («New York Community«) (NYSE: NYCB). Under the terms of the merger agreement, Flagstar shareholders will receive 4.0151 shares of New York Community common stock for each Flagstar share that they own, representing implied per share merger consideration of $48.14 based upon New York Community’s April 23, 2021 closing price of $11.99. Upon completion of the transaction, New York Community shareholders will own approximately 68% and Flagstar shareholders will own approximately 32% of the combined entity. The implied total transaction value is approximately $2.6 billion.
If you own Flagstar shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether (i) Flagstar’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Flagstar’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP