The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Winn-Dixie Stores Inc. In Connection With The Sale Of The Company To Bi-Lo
NEW YORK, Dec. 19, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Winn-Dixie Stores Inc. ("Winn-Dixie" or the "Company") (Nasdaq: WINN) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Bi-Lo. Under the terms of the transaction, Winn-Dixie shareholders will receive $9.50 per share of Winn-Dixie stock they own. The transaction has a total approximate value of $560 million.
Click here to learn how to join the action: http://www.zlk.com/winn-dixie-winn, or call: 877-363-5972.
The investigation concerns whether the Winn-Dixie Board of Directors breached their fiduciary duties to Winn-Dixie stockholders by failing to adequately shop the Company before entering into this transaction and whether Bi-Lo is underpaying for Winn-Dixie shares, thus unlawfully harming Winn-Dixie stockholders. In particular, at least one analyst has set a price target for Winn-Dixie stock at $11 per share, Winn-Dixie shares have traded as high as $10.08 as recently as July 21, 2011 and the Company has reported a book value of $14.98 per share, for the most recent quarter.
If you own common stock in Winn-Dixie 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 http://www.zlk.com.Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP
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