INVESTOR ALERT Levi & Korsinsky, LLP Announces Investigation of XYRATEX LTD. & Its Board of Directors In Connection With the ...
December 23 2013 - 11:53AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Xyratex Ltd. (“Xyratex” or “the Company”) (NasdaqGS:XRTX) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Seagate
Technology plc (NasdaqGS:STX).
Click here to learn more about the action
http://zlk.9nl.com/xyratex-xrtx/, or call: 877-363-5972.
There is no cost or obligation to you.
Under the terms of transaction, Xyratex shareholders will
receive $13.25 in cash for each share of Xyratex stock they own.
The transaction has a total approximate value of $374 million. The
investigation concerns whether the Xyratex Board of Directors
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into this
transaction, and whether Seagate Technology plc is underpaying for
Xyratex shares. In particular at least one analyst set a price
target for Xyratex stock at $14.00 per share.
If you own Xyratex common stock and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://zlk.9nl.com/xyratex-xrtx/.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, Connecticut and Washington D.C. The firm’s 26
attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits. For
more information, please feel free to contact any of the attorneys
listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.
Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky,
Esq.Tel: 212-363-7500Toll Free: 877-363-5972Fax:
866-367-6510www.zlk.com
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