An investigation on behalf of current investors of Valley National Bancorp (Public, NYSE: VLY) over possible shareholder claims concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers was announced.

According to the investigation by a law firm the investigation focuses on possible claims that certain Valley National Bancorps senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007. Valley National Bancorp is a bank holding company whose principal wholly owned subsidiary is Valley National Bank. Valley National Bank provides a range of commercial and retail banking services. These services include the acceptance of demand, savings and time deposits; extension of consumer, real estate, commercial loans; equipment leasing; personal and corporate trust, and pension and fiduciary services. Certain senior officers at Valley National Bancorp, were awarded salaries, bonuses, stock options and other forms of long-term, incentive or retirement compensation that was, so the investigation, excessive or unwarranted based on Valley National Bancorps performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting. The investigation by the law firm is also investigating claims that the prior compensation awarded at Valley National Bancorp is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow Valley National Bancorp (Public, NYSE:VLY) stockholders to influence or control future compensation decisions at Valley National Bancorp. Valley National Bancorp is located in Wayne, NJ and had $14billion in total assets with a net income of $93million in 2008. Shares of Valley National Bancorp (NYSE:VLY) traded recently at $13.32 per share, down from $24 in September 2008.