PR Newswire
SAN DIEGO, Feb. 22, 2021 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of People’s United Financial, Inc. (NASDAQ: PBCT) (“People’s United”) breached their fiduciary duties in connection with the proposed sale of the Company to M&T Bank Corporation (NYSE: MTB) (“M&T”).
On February 22, 2021, People’s United announced that it had entered into a definitive merger agreement with M&T. Under the terms of the agreement, People’s United shareholders will receive 0.118 of a share of M&T common stock for each People’s United share they own. People’s United shareholders will be subject to the future price fluctuation of M&T ‘s stock price.
The investigation concerns whether the People’s United board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for People’s United shares of common stock.
If you are a shareholder of People’s United and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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SOURCE Johnson Fistel, LLP
