latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/flushing-financial-to-provide-additional-empire-bancorp-deal-related-disclosures-57151858 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Flushing Financial to provide additional Empire Bancorp deal-related disclosures

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Flushing Financial to provide additional Empire Bancorp deal-related disclosures

Uniondale, N.Y.-based Flushing Financial Corp. will provide additional disclosures related to its proposed acquisition of Islandia, N.Y.-based Empire Bancorp Inc. in response to a lawsuit filed against the deal.

A purported Empire Bancorp shareholder on Dec. 26, 2019, sued Empire Bancorp, its board and Flushing Financial, alleging that the defendants omitted certain material information from a deal-related registration statement and that Empire Bancorp's board breached their fiduciary duties by sanctioning the deal, which allegedly provided for inadequate merger consideration. The plaintiff sought to stop the deal from going through.

While the defendants continue to believe the lawsuit was entirely without merit, they decided to voluntarily make certain supplemental disclosures to avoid the risk of a potential delay in the deal's closing and to minimize litigation-related expenses.