Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Sealy Corp. (“Sealy”)(NYSE: ZZ) to Tempur-Pedic International for shareholders. Under the proposed transaction valued at approximately $1.3 billion including the assumption of debt, Sealy shareholders will only receive $2.20 in cash for each share of Sealy stock owned, which is only a 3% premium over the previous closing price and well below the 52 week high of $2.45.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The investigation centers on whether Sealy shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Sealy stock, and whether Sealy’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. “Due to the lack of a significant premium to the shareholders and other factors, we believe that the transaction may undervalue Sealy stock. Our lawsuit will seek to obtain the highest share price for all shareholders,” said shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.