NEW YORK, Feb. 26, 2015 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Oneida Financial Corporation (“Oneida” or the “Company”) (NASDAQ: ONFC) (ISIN: US6824791007) (CUSIP: 682479100) concerning the proposed acquisition of Oneida by Community Bank System, Inc.

Oneida shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.

The investigation concerns whether the Oneida directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed acquisition, Oneida shareholders can elect to receive either $20.00 in cash or 0.5635 shares of Community Bank System, Inc. common stock per share for each outstanding share of Oneida common stock, subject to an overall 60% stock and 40% cash split. However, the Price to EBITDA and Revenue multiples are below the average of comparable transactions, according to Bloomberg.

Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com

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SOURCE Pomerantz LLP