SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Heartland Financial, USA Inc. (Nasdaq – HTLF)
BALA CYNWYD – April 29, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Heartland Financial, USA Inc. (“Heartland Financial” or the “Company”) (Nasdaq – HTLF) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to UMB Financial Corporation (“UMB”) (Nasdaq – UMBF). Under the terms of the agreement, Heartland Financial stockholders will receive a fixed exchange ratio of 0.55 shares of UMB common stock for each share of Heartland Financial common stock. This per share consideration is valued at $45.74 per share based on UMB’s closing price of $83.17 on April 26, 2024. Following completion of this contemplated transaction, former Heartland Financial stockholders are expected to collectively represent approximately 31% of the combined company.
The investigation concerns whether the Heartland Financial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether UMB is paying fair value to shareholders of the Company.
If you own shares of Heartland Financial stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com,or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.