In re Sterling Financial Corporation Securities Class Action Website

If you purchased or otherwise acquired the common stock of Sterling Financial Corporation (“Sterling” or the “Company”) between April 27, 2004, and May 24, 2007, inclusive (the “Settlement Class Period”), then you may be entitled to a payment from a class action settlement.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
SUBMIT A CLAIM FORM	The only way to get a payment.
OBJECT	Write to the Court if you do not like the Settlement.
GO TO A HEARING	Ask to speak in Court about the Settlement.
DO NOTHING	Get no payment. Give up your rights.

The Action generally alleges that Defendants The PNC Financial Services Group, Inc., Sterling, Bank of Lancaster County N.A., and Equipment Financing Inc., in addition to the Individual Defendants, violated Section 10(b) of the Securities Exchange Act of 1934 (the “1934 Act”) and Rule 10b-5 promulgated thereunder by disseminating materially false and misleading information to the investing public through the Company’s press releases and financial filings with the Securities and Exchange Commission (SEC) throughout the Settlement Class Period. Lead Plaintiffs additionally allege that the Individual Defendants violated Section 20(a) of the 1934 Act as control persons by and through the conduct alleged above.

The Consolidated Amended Complaint alleges that as a result of the allegedly false and misleading statements, the price of Sterling’s common stock was inflated and that investors who purchased Sterling’s common stock at these inflated prices were damaged.

The allegations described above do not reflect or imply any concessions or admissions by the Defendants or any findings by the Court. Defendants dispute Lead Plaintiffs’ allegations, deny any wrongdoing, and have asserted numerous defenses to Lead Plaintiffs’ claims. The Court did not decide in favor of Lead Plaintiffs or Defendants. Instead, Lead Plaintiffs and Defendants have agreed to settle the lawsuit.

In exchange for the Settlement and dismissal of claims against the Released Persons, Defendants shall create or cause to be created a Settlement Fund of $10,250,000 to be divided, after deduction of Court-awarded attorneys’ fees and expenses and settlement administration costs and taxes, among all Settlement Class Members who send in a valid Proof of Claim and Release form (“Claim Form”).

More details are available in the Notice of Pendency and Settlement of Class Action (the “Notice”) available for download by clicking here.

For more information concerning the matters involved in this Settlement, please contact the Claims Administrator at 800-391-9724.

DO NOT CONTACT THE COURT REGARDING THIS ACTION.