The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Of Southwall Technologies Inc.
Levi & Korsinsky is investigating the Board of Directors of Southwall Technologies Inc. (“Southwall” or the “Company”) (NASDAQ: SWTX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Solutia Inc. (NYSE: SOA). Under the terms of the transaction, Southwall shareholders will receive $13.60 for each share of Southwall stock they own. The transaction has a total value of approximately $113 million.
Click here to learn more about the investigation: http://www.zlk.com/southwall-technologies-swtx, or call: 877-363-5972.
The investigation concern whether the Southwall Board of Directors breached their fiduciary duties to Southwall stockholders by failing to adequately shop the Company before entering into this transaction and whether Solutia Inc. is underpaying for Southwall shares, thus unlawfully harming Southwall stockholders. In particular, Southwall shares have traded as high as $13.97 as recently as August 2, 2011.
Certain funds affiliated with Needham Funds, together with Dolphin Direct Equity Partners, L.P., which collectively hold shares of Southwall common stock and convertible preferred stock equal to approximately 63% of the outstanding shares of Southwall common stock on an as-converted basis, have agreed to support the transaction and tender their shares in the offer.If you own common stock in Southwall and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com. 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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