The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of The Pe...
January 30 2012 - 7:28PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
The Pep Boys – Manny, Moe & Jack (“Pep Boys ” or the “Company”)
(NYSE: PBY) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to The Gores Group. Under the terms of the transaction, Pep Boys
shareholders will receive $15.00 for each share of Pep Boys stock
they own. The transaction has a total approximate value of $1.0
billion.
Click here to learn how to join the action:
http://www.zlk.com/pep-boys-pby, or call: 877-363-5972.
The investigation concerns whether the Pep Boys Board of
Directors breached their fiduciary duties to Pep Boys stockholders
by failing to adequately shop the Company before entering into this
transaction and whether The Gores Group is underpaying for Pep Boys
shares, thus unlawfully harming Pep Boys stockholders. In
particular, at least one analyst set a price target of $17.00 per
Pep Boys share.
If you own common stock in PBY 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 http://www.zlk.com.
Levi & Korsinsky has extensive expertise in prosecuting
investor securities litigation involving financial fraud and
represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. For more
information, please feel free to contact any of the attorneys
listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.
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