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Takeover of Empire Bancorp, Inc. (OTC: EMPK) under Investigation for Investors

01-13-2020 09:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Empire Bancorp, Inc. (OTC: EMPK) in connection with the proposed takeover was announced

An investigation on behalf of investors of Empire Bancorp, Inc. (OTC: EMPK) in connection with the proposed takeover was announced

An investigation on behalf of investors, who currently hold shares of Empire Bancorp, Inc. (OTC: EMPK), was announced concerning whether the takeover of Empire Bancorp, Inc. (OTC: EMPK) is unfair to OTC: EMPK stockholders.

Investors who purchased shares of Empire Bancorp, Inc. (OTC: EMPK) and currently hold any of those Empire Bancorp, Inc. (OTC: EMPK shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Empire Bancorp, Inc. (OTC: EMPK breached their fiduciary duties owed to Empire Bancorp, Inc. (OTC: EMPK investors in connection with the proposed acquisition.

Islandia, NY based Empire Bancorp, Inc. operates as the bank holding company for Empire National Bank that provides various banking products and services primarily in New York.

On October 25, 2019 Flushing Financial Corporation ( “Flushing”) (Nasdaq: FFIC), the parent holding company for Flushing Bank, and Empire Bancorp, Inc. (“Empire”) (OTC: EMPK), the parent holding company for Empire National Bank, announced today that they have entered into a merger agreement for Flushing to acquire Empire in a transaction valued at an estimated $111.6 million, based on Flushing’s closing stock price on October 24, 2019. Under the terms of the merger agreement, each share of Empire common stock will be exchanged for either 0.6548 shares of Flushing common stock or $14.04 in cash.

However, the investigation concerns whether the offer is unfair to OTC: EMPK stockholders. More specifically, the investigation concerns whether the Empire Bancorp Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Empire Bancorp, Inc. (OTC: EMPK) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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