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Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether Oritani Financial Corp. has obtained a Fair Price in its sale to Valley National Bancorp

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MILWAUKEE, June 26, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating Oritani Financial Corp. (NASDAQ:ORIT) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Oritani to Valley.

Click here to learn how to join the action: http://ademilaw.com/case/oritani or call Guri Ademi toll-free at 866-264-3995.  There is no cost or obligation to you.

Ademi & O'Reilly, LLP alleges Oritani's financial outlook is improving and yet shareholders will receive only 1.60 shares of Valley common stock for each share of Oritani common stock they own, or approximately $16.29 based on Valley's closing price on June 25, 2019.  Valley is acquiring Oritani at a substantial discount.  The merger agreement unreasonably limits competing bids for Oritani by prohibiting solicitation of further bids, and imposing a termination penalty if Oritani accepts a superior bid. Oritani insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Oritani's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Oritani.

If you own common stock in Oritani and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://ademilaw.com/case/oritani.                    

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

 

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SOURCE Ademi & O'Reilly, LLP

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