The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Financial Federal Corp. (FIF) arising out of the proposed acquisition of Federal Financial by People's United Financial, Inc.
On November 23, 2009, People's United announced that Federal Financial would be acquired by People's United in a stock and cash acquisition valued at approximately $738 million. Under the terms of the agreement, Federal Financial stockholders will receive cash of $11.27 and one share of People's United common stock in exchange for each share of Federal Financial common stock. Pursuant to this proposed acquisition, People's United may be underpaying for Federal Financial, thus unlawfully harming Federal Financial shareholders.
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