Halper Sadeh Investigates FONAR's $19 Share Sale and OceanFirst Merger
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Globenewswire
- FONAR Shareholder Investigation: Halper Sadeh LLC is investigating FONAR Corporation's sale to CEO Timothy Damadian and certain executives at $19 per share, potentially violating fiduciary duties to shareholders, which could impact shareholder rights.
- OceanFirst Merger Details: Upon completion of the merger with Flushing Financial Corp., OceanFirst Financial Corp. shareholders are expected to own approximately 58% of the combined entity, which may affect the future market positioning of both companies.
- Flushing Financial Shareholder Rights: Flushing Financial Corp. is being sold to OceanFirst for 0.85 shares of OceanFirst common stock per Flushing share, with Halper Sadeh LLC potentially seeking increased consideration and additional disclosures to enhance shareholder protections.
- Legal Service Commitment: Halper Sadeh LLC will handle the case on a contingency fee basis, meaning shareholders will not incur out-of-pocket legal fees, and they are encouraged to contact the firm to discuss their legal rights and options.
Analyst Views on FFIC
Wall Street analysts forecast FFIC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FFIC is 14.25 USD with a low forecast of 14.00 USD and a high forecast of 14.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 15.560
Low
14.00
Averages
14.25
High
14.50
Current: 15.560
Low
14.00
Averages
14.25
High
14.50
About FFIC
Flushing Financial Corporation is the holding company for Flushing Bank (the Bank). The Bank offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. The Bank's principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, primarily in originations and purchases of multi-family residential properties loans, commercial business loans, commercial real estate mortgage loans and, to a lesser extent, one-to-four family loans; construction loans; small business administration (SBA) loans; mortgage loan surrogates, such as mortgage-backed securities; and United States government securities, corporate fixed-income securities and other marketable securities. The Bank also operates an Internet branch that operates under the brands of iGObanking.com and BankPurely.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
