Imperial Sugar Buyout: The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty...
May 01 2012 - 2:19PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Imperial Sugar Company (“Imperial Sugar” or the “Company”)
(NasdaqGS: IPSU) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to a subsidiary of Louis Dreyfus Commodities LLC. Under the terms
of the transaction, Imperial Sugar shareholders will receive $6.35
per share of Imperial Sugar stock they own. The transaction has a
total approximate value of $78 million.
Click here to learn how to join the action:
http://www.zlk.com/imperial-sugar-ipsu, or call: 877-363-5972.
There is no cost or obligation to you.
The investigation concerns whether the Imperial Sugar Board of
Directors breached their fiduciary duties to Imperial Sugar
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Louis Dreyfus
Commodities LLC is underpaying for Imperial Sugar shares, thus
unlawfully harming Imperial Sugar stockholders. In particular,
shares of Imperial Sugar have traded as high as $7.03 per share as
recently as February 13, 2012 and at least one analyst set a price
target for Imperial Sugar stock at $20 per share.
If you own common stock in Imperial Sugar 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 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.
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