SAN DIEGO – Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible legal claims against the Board of Directors of Sterling Bancorp (“Sterling”) (NYSE: STL), regarding possible breaches of fiduciary duties and other violations of law related to Sterling’s entry into an agreement to be acquired by Provident New York Bancorp (“Provident”) (NYSE: PBNY) in a transaction valued at approximately $344 million.

Sterling is a bank and financial holding company.  Sterling and its subsidiaries provide banking and related financial services and products to customers primarily in New York, New Jersey, and Connecticut, but also conducts business throughout the United States.

Zeldes & Haeggquist’s investigation concerns whether Sterling’s Board of Directors failed to adequately shop Sterling to obtain the best possible value for Sterling’s shareholders before entering into an agreement with Provident.  Under the terms of the proposal, public shareholders of Sterling will receive about $11.12 per Sterling share.

If you own Sterling common stock and purchased your shares before April 4, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.