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SHAREHOLDER ALERT: Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Presstek, Inc. In Connection With The Sale Of The Company To MAI Holdings, Inc.
Aug. 23, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Presstek, Inc. ("Presstek" or the "Company") (Nasdaq: PRST) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to MAI Holdings, Inc., an entity affiliated with American Industrial Partners Capital Fund IV, L.P.
Click here to learn more about the investigation:
http://zlk.9nl.com/presstek-prst, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Presstek shareholders will receive
$0.50 in cash for each share of Presstek stock they own. Shareholders representing 24.5% of the Company's outstanding common stock have already agreed to tender their shares. The investigation concerns whether the Presstek Board of Directors breached their fiduciary duties to Presstek stockholders by failing to adequately shop the Company before entering into this transaction and whether MAI Holdings, Inc. is underpaying for Presstek shares, thus unlawfully harming Presstek stockholders. In particular, Presstek has a reported a book value of
$1.01 per share for the most recent quarter and at least one analyst set a price target for the stock at
$3.00 per share.
If you own common stock in Presstek and wish to obtain additional information, please contact
Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
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.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor
New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP