The Law Firm Of Levi & Korsinsky, LLP Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Drugstore.com, Inc. In Connection With The Sale Of The Company To Walgreen Company – DSCM
Levi & Korsinsky is investigating the Board of Directors of
Levi & Korsinsky is investigating the Board of Directors of drugstore.com, inc. (“drugstore.com” or the “Company”) (Nasdaq: DSCM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Walgreen Company (NYSE: WAG). Under the terms of the transaction, drugstore.com shareholders will receive $3.80 in cash per each share of drugstore.com they own. The transaction has a total value of approximately $409 million. Click here to learn how to join the action: http://www.zlk.com/drugstore-dotcom-dscm.html, or call: 877-363-5972. The investigation concerns whether the drugstore.com Board of Directors breached their fiduciary duties to drugstore.com stockholders by failing to adequately shop the Company before entering into this transaction and whether Walgreen Company is underpaying for drugstore.com shares, thus unlawfully harming drugstore.com stockholders. If you own common stock in drugstore.com 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 visit http://www.zlk.com/drugstore-dotcom-dscm.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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 litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Drugstore.com (Nasdaq:DSCM) is trading at unusually high volume Friday with 11.2 million shares changing hands. It is currently at 13.1 times its average daily volume and trading up eight cents (+2.2%).
Shares of Drugstore.com (Nasdaq:DSCM) were gapping up Thursday morning with an open price 112.3% higher than Wednesday's closing price. The stock closed at $1.79 yesterday and opened today's trading at $3.80.