We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Prudential Bancorp, Inc. (“Prudential” or the “Company”) (NASDAQ: PBIP) in connection with the proposed merger of the Company with Fulton Financial Corporation (“Fulton”) (NASDAQ: FULT). Under the terms of the merger agreement, Prudential shareholders will receive 0.7974 shares of Fulton common stock and $3.65 in cash for each Prudential share they own, representing implied per share merger consideration of approximately $17.56 based upon Fulton’s March 4, 2022 closing price of $17.44.
WeissLaw LLP is investigating whether (i) Prudential’s board acted in the best interest of Prudential’s stockholders in agreeing to the proposed transaction, (ii) the merger consideration is fair to the Company’s stockholders, and (iii) all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Prudential’s stockholders.