SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Sea...
28 September 2012 - 1:59AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Sealy Corporation (“Sealy” or the “Company”) (NYSE: ZZ) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Tempur-Pedic
International Inc. (NYSE: TPX).
Click here to learn more about the investigation:
http://zlk.9nl.com/sealy-zz, or call: 877-363-5972. There is
no cost or obligation to you.
Under the terms of the transaction, Sealy shareholders will
receive $2.20 for each Sealy share they own. The transaction has a
total approximate value of $1.3 billion, including the assumption
of debt. Certain shareholders holding approximately 51% of Sealy’s
outstanding common stock have agreed to tender their shares. The
investigation concerns whether the Sealy Board of Directors
breached their fiduciary duties to Sealy stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Tempur-Pedic International is underpaying for Sealy
shares, thus unlawfully harming Sealy stockholders.
If you own common stock in Sealy 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/sealy-zz.
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. 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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