NEW YORK--(BUSINESS WIRE)-- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Alliance Financial Corporation (“Alliance” or the “Company”) (NASDAQ: ALNC) (ISIN: US0192051037) concerning the proposed acquisition of Alliance by NBT Bancorp Inc. in a stock transaction valued at approximately $233 million.
The investigation concerns whether the Alliance directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Alliance shareholders would receive 2.1779 shares of NBT common stock, valued at $48.00, per share of Alliance common stock. However, at least one analyst has set a target price of $50.00 per share.
Alliance shareholders seeking more information about this acquisition are advised to contact Ofer Ganot at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 315.
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Ofer Ganot, 212-661-1100 ext. 315
Source: Pomerantz Grossman Hufford Dahlstrom & Gross LLP