Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Sealy Corporation (“Sealy” or the “Company”) (NYSE: ZZ) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Tempur-Pedic International Inc. (“Tempur-Pedic”) (NYSE: TPX) in a transaction valued at approximately $1.3 billion, including the assumption or repayment of Sealy’s convertible and non-convertible debt.
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Under the terms of the proposal, public shareholders of Sealy will receive $2.20 per share in cash for each share of Sealy they own.
The investigation concerns whether Sealy’s board of directors failed to adequately shop the Company and obtain the best possible value for Sealy’s shareholders before entering into an agreement with Tempur-Pedic.If you own the common stock of Sealy and purchased your shares before September 27, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/sealy-corporation-zz. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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