ByteDance Finalizes Majority U.S.-Owned TikTok Joint Venture to Avert American Ban 
Tesla Plans FSD Subscription Price Hikes as Autonomous Capabilities Advance 
Walmart to Cut PhonePe Stake in IPO as Tiger Global and Microsoft Exit 
BitGo IPO Prices Above Range, Raises $212.8M in Landmark Crypto Market Debut 
Intel Stock Slides Despite Earnings Beat as Weak Q1 Outlook Raises Concerns 
JPMorgan and Allen & Company Emerge as Big Winners in Warner Bros Discovery Bidding War 
Memory Chip Shortage Drives Higher Gadget Prices and Weakens Global Tech Demand 
U.S. Vaccine Policy Shifts Under RFK Jr. Create Uncertainty for Pharma and Investors 
Nvidia CEO Jensen Huang Plans China Visit Amid AI Chip Market Uncertainty 
OpenAI Launches Stargate Community Plan to Offset Energy Costs and Support Local Power Infrastructure 
Lynas Rare Earths Shares Surge as Quarterly Revenue Jumps on Strong Prices 
Morgan Stanley Flags High Volatility Ahead for Tesla Stock on Robotaxi and AI Updates 
United Airlines Posts Record Q4 Revenue as Premium Demand Lifts Earnings 
Apple China Holiday Sale Offers Discounts Up to 1,000 Yuan on Popular Devices 
Elon Musk Shares Bold Vision for AI, Robots, and Space at Davos 
Netflix Stock Slips After Earnings as Soft 2026 Guidance Overshadows Subscriber Milestone 
 - EconoTimes)
NEW YORK, May 03, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Astoria Financial Corporation (“Astoria Financial” or the “Company”) (Nasdaq:AF) in the United States District Court for the Eastern District of New York in connection with the proposed acquisition of Astoria Financial by Sterling Bancorp (“Sterling”) announced on March 7, 2017 (the “Complaint”). The Complaint alleges violations of the Securities Exchange Act of 1934 against Astoria, its Board of Directors (the “Board”), and Sterling.
On March 6, 2017, Astoria entered into an agreement and plan of merger (the “Merger Agreement”) with Sterling. Pursuant to the Merger Agreement, shareholders of Astoria will receive 0.875 shares of Sterling common stock for each share of Astoria stock they own (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a registration statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission on April 5, 2017. The Complaint alleges that the Registration Statement, which recommends that Astoria stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to Astoria’s financial projections, the analyses performed by Astoria’s financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Astoria common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
