The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of ZOLL Medical Corporation In Connection With The Sale Of The Company To Asahi Kasei Corporation
NEW YORK, March 14, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of ZOLL Medical Corporation ("ZOLL" or the "Company") (Nasdaq: ZOLL) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Asahi Kasei Corporation (TYO: 3407). Under the terms of the agreement, ZOLL shareholders will receive $93 for each share of ZOLL stock they own. The transaction has a total approximate value of $2.2 billion. Click here to learn how to join the action: http://www.zlk.com/zoll-medical-zoll, or call: 877-363-5972. There is no cost or obligation to you. The investigation concerns whether the ZOLL Board of Directors breached their fiduciary duties to ZOLL stockholders by failing to adequately shop the Company before entering into this transaction and whether Asahi Kasei Corporation is underpaying for ZOLL shares, thus unlawfully harming ZOLL stockholders. In particular, at least one analyst set a price target of $100 per ZOLL share. If you own common stock in ZOLL 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, http://www.zlk.com. 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. CONTACT:
Zoll Medical Corporation (Nasdaq:ZOLL) hit a new 52-week high Monday as it is currently trading at $93.29, above its previous 52-week high of $93.02 with 1.2 million shares traded as of 3:55 p.m. ET. Average volume has been 336,400 shares over the past 30 days.
Shares of Zoll Medical Corporation (Nasdaq:ZOLL) have taken a tremendous swing upward. The stock is trading at $92.95 as of 9:30 a.m. ET, 23.8% above Friday's closing price of $75.10. Volume is at 972,021, 2.9 times the daily average of 336,400.