We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of People’s United Financial, Inc. (“People’s United” or the “Company”) (NASDAQ: PBCT) in connection with the proposed acquisition of the Company by M&T Bank Corporation (“M&T”) (NYSE: MTB).  Under the terms of the merger agreement, People’s United shareholders will receive 0.118 of a share of M&T common stock for each People’s United share they own, representing implied per-share merger consideration of $17.70 based upon M&T’s February 19, 2021 closing share price of $149.97.  Following completion of the transaction, former People’s United shareholders will collectively own approximately 28% of the combined company.  The transaction is valued at approximately $7.6 billion.

WeissLaw is investigating whether (i) People’s United’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates People’s United’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com