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The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Winner Medical Group Inc. In Connection With The Receipt Of A Going Private Proposal
Levi & Korsinsky is investigating the Board of Directors of Winner Medical Group Inc. (“Winner” or the “Company”) (Nasdaq: WWIN) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a going private proposal from its Chairman and Chief Executive Officer, Mr. Jianquan Li. According to the terms of the proposal, Li would acquire all outstanding shares of the Company’s common stock for $4.30 per share. Zhu currently owns approximately 74% of the Company’s stock.
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The investigation concerns, among other things, whether the consideration to be paid to Winner shareholders is unfair, inadequate, and substantially below the fair or inherent value of Winner, and whether Li is taking advantage of his position as a controlling shareholder in order to purchase the Company at an unfair price. At least one analyst has set a price target of $5.50 per share for Winner stock and the Company reported a book value of $5.31 per share for the most recent quarter.
If you own common stock in Winner 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
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. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.