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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Stewardship Financial Corporation (“Stewardship” or the “Company”)(NASDAQCM: SSFN) to Columbia Financial, Inc. (“Columbia”) (NASDAQGS: CLBK). Under the terms of the deal, stockholders of Stewardship will receive $15.75 in cash for each share of Stewardship common stock held.
The Stewardship merger investigation concerns whether the Board of Stewardship breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Columbia is underpaying for Stewardship shares, thus unlawfully harming Stewardship shareholders.
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