ConnectOne Bancorp Inc. (CNOB) has disclosed a new risk, in the Share Price & Shareholder Rights category.
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Shareholder litigation poses a significant risk to the merger between ConnectOne Bancorp Inc. and FLIC, as lawsuits filed by shareholders could result in injunctions that delay or prevent the merger’s completion. Such legal actions could incur substantial costs for ConnectOne, including expenses related to the indemnification of directors and officers and the defense or settlement of lawsuits. These financial implications could adversely affect ConnectOne’s consolidated financial condition and operational outcomes. The uncertainty surrounding potential legal challenges may also impact strategic plans and investor confidence, further complicating the merger process.
The average CNOB stock price target is $31.00, implying 22.92% upside potential.
To learn more about ConnectOne Bancorp Inc.’s risk factors, click here.
