Faruqi & Faruqi, LLP Seeks to Protect Investors with over $1 Million Invested in Hudson City Bancorp, Inc. in Connection with Its Potential Sale

NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Hudson City Bancorp, Inc. (“Hudson City” or the “Company”) (NASDAQ: HCBK) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to M&T Bank Corporation (“M&T”) (NYSE: MTB) in a deal valued at approximately $3.7 billion. Under the terms of the proposed transaction, Hudson City’s stockholders will receive 0.08403 of an M&T share in the form of either M&T stock or cash. The transaction values the proposed consideration at approximately $7.74 based on today’s close, while according to Yahoo! Finance, at least one financial analyst has set a price target of $8.75 for Hudson City.