The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
November 29 2010 - 11:01AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Del Monte Foods Co. (“Del Monte” or the “Company”) (NYSE: DLM) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to
Kohlberg Kravis Roberts, Vestar Capital Partners and Centerview
Partners. Under the terms of the transaction, Del Monte
shareholders will receive $19.00 per share in cash for each share
they own for a total transaction value of approximately $4
billion.
Click here to learn how to join the action:
http://www.zlk.com/delmontefoods-dlm.html, or call:
877-363-5972.
The investigation concerns whether the Del Monte Board of
Directors breached their fiduciary duties to Del Monte stockholders
by failing to adequately shop the Company before entering into this
transaction and whether the buyers are underpaying for Del Monte
shares. In particular, at least one analyst set a price target for
Del Monte common stock at $22 per share.
If you own common stock in Del Monte 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://www.zlk.com/delmontefoods-dlm.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. 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 litigations
involving mergers and acquisitions. 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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