Hudson City Bancorp Inc's Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg LLP

Glancy Binkow & Goldberg LLP announced that it is investigating potential claims against the Board of Directors of Hudson City Bancorp Inc (Hudson or the Company) related to the proposed acquisition of the Company by M&T Bank Corp (M&T). The transaction is valued at approximately $3.7 billion, and under the terms of the deal each Hudson shareholder would receive 0.08403 shares of M&T in the form of either stock or cash. This values each Hudson share at roughly $7.22. This investigation concerns whether the Board of Directors of Hudson breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $5.09 on November 23, 2011 to $7.54 on March 20, 2012. Further, at least one analyst has set a target price for the Company’s stock at $7.50.