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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of VSB Bancorp, Inc. (“VSB” or the “Company”) (OTCMKTS: VSBN) to Northfield Bancorp, Inc. (“Northfield”) (NASDAQ: NFBK). Under the terms of the agreement, each share of VSB common stock will be exchanged for between 1.8514 and 2.0463 shares of Northfield common stock, depending on Northfield’s ten-day average stock price prior to the closing of the merger.
The VSB merger investigation concerns whether the Board of VSB breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Northfield is underpaying for VSB shares, thus unlawfully harming VSB shareholders.
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