The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Possible Breaches of Fiduciary Duty by the Board of Graham Packaging
13 Junho 2011 - 4:51PM
Marketwired
Levi & Korsinsky notifies investors in Graham Packaging Company
Inc. (NYSE: GRM) of claims of possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Silgan Holdings Inc. (NASDAQ: SLGN). Under the terms
of the transaction, Graham Packaging shareholders will receive
$4.75 in cash and 0.402 shares of Silgan common stock per Graham
Packaging share they own. The transaction values Graham packaging
stock at approximately $19.56 per share for a total transaction
value of approximately $4.1 billion, including the assumption of
debt.
Click here to learn how to join the action:
http://zlk.9nl.com/graham-classaction, or call: 877-363-5972.
The claims concern whether the Graham Packaging Board of
Directors breached their fiduciary duties to Graham Packaging
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Silgan Holdings Inc. is
underpaying for Graham Packaging shares. In particular, at least
one analyst set a price target of $22.00 per share. Furthermore, on
June 13, 2011 the Company announced that it received from an
unnamed entity an unsolicited buyout offer at $25 per share.
A complaint challenging the transaction was filed in The Court
of Common Pleas of Pennsylvania. If you own common stock in Graham
Packaging 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/graham-classaction.
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.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004
Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
www.zlk.com
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