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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Oritani Financial Corp. (“Oritani” or the “Company”) (NASDAQGS: ORIT) to Valley National Bancorp (“Valley National”) (NASDAQGS: VLY). Under the terms of the deal, common shareholders of Oritani will receive 1.60 shares of Valley National common stock for each Oritani share they own.
The Oritani merger investigation concerns whether the Board of Oritani breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Valley National is underpaying for Oritani shares, thus unlawfully harming Oritani shareholders.
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