NEW YORK, March 14, 2012 /PRNewswire/ -- Levi &
Korsinsky is investigating potential claims against the Board of
Directors of Sealy Corporation ("Sealy" or the "Company") (NYSE:
ZZ) in connection with the compensation of certain members of the
Board and other officers and certain transactions involving Sealy
and its largest shareholder, Kohlberg Kravis Roberts & Co.
L.P. ("KKR"). As of November 27,
2011, KKR owns approximately 46% of Sealy's outstanding
shares.
For more information, click here:
http://www.zlk.com/sealy-corporation-zz.
On March 11, 2012, H Partners
Management, LLC ("H Partners"), a Sealy shareholder owning
approximately 14.5% of Sealy's outstanding shares, sent a letter to
the Board expressing concern that the Board has been advancing the
interests of KKR instead of, and often at the expense of, the
interests of all Sealy shareholders. For example, as stated
in H Partners' letter, the Board has sanctioned $20.9 million of payments to KKR in "consulting"
and "advisory" fees since Sealy's IPO in 2006, which represents a
transfer of value from Sealy shareholders to KKR and its
affiliates. Furthermore, H Partners alleged that Sealy's
Compensation Committee made certain decisions concerning director
and officer compensation in accordance with the interests of
KKR.
If you own Sealy stock and wish to obtain additional information
about the investigation and your legal rights, 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://www.zlk.com.
Levi & Korsinsky is a national firm with offices in
New York and Washington D.C.
The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
The attorneys at Levi & Korsinsky have been appointed by
numerous courts throughout the country to serve as lead counsel on
behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. 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 Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP