NEW YORK, Jan. 28, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All Persons or Entities who purchased TCF Financial Corporation (“TCF” or the “Company”) (NYSE: TCF) stock prior to January 28, 2019.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of TCF to Chemical Financial Corporation (NASDAQGS: CHFC). Under the terms of the transaction, TCF shareholders will receive 0.5081 shares of Chemical common stock for each share of TCF common stock they own; this represents a value of approximately $21.58 per share. In addition, each outstanding share of 5.70% Series C Non-Cumulative Perpetual Preferred Stock of TCF will be exchanged for one share of newly-created Chemical preferred stock. To learn more about the action and your rights, go to:

https://www.zlk.com/mna/tcf-financial-corporation

 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The TCF merger investigation concerns whether the Board of TCF breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Chemical is underpaying for TCF shares, thus unlawfully harming TCF shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com