Imperial Sugar Buyout: The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Imperial Sugar Company In Connection With The Sale Of The Company To Louis Dreyfus Commodities LLC
Levi & Korsinsky is investigating the Board of Directors of Imperial
Sugar Company (“Imperial Sugar” or the “Company”) (NasdaqGS: IPSU) for
possible breaches of fiduciary duty and other violations...
Levi & Korsinsky is investigating the Board of Directors of Imperial Sugar Company (“Imperial Sugar” or the “Company”) (NasdaqGS: IPSU) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to a subsidiary of Louis Dreyfus Commodities LLC. Under the terms of the transaction, Imperial Sugar shareholders will receive $6.35 per share of Imperial Sugar stock they own. The transaction has a total approximate value of $78 million. Click here to learn how to join the action: http://www.zlk.com/imperial-sugar-ipsu, or call: 877-363-5972. There is no cost or obligation to you. The investigation concerns whether the Imperial Sugar Board of Directors breached their fiduciary duties to Imperial Sugar stockholders by failing to adequately shop the Company before entering into this transaction and whether Louis Dreyfus Commodities LLC is underpaying for Imperial Sugar shares, thus unlawfully harming Imperial Sugar stockholders. In particular, shares of Imperial Sugar have traded as high as $7.03 per share as recently as February 13, 2012 and at least one analyst set a price target for Imperial Sugar stock at $20 per share. If you own common stock in Imperial Sugar 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 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.
Shares of Imperial Sugar Company (Nasdaq:IPSU) were gapping down Thursday morning with an open price 14.9% lower than Wednesday's closing price. The stock closed at $4.35 yesterday and opened today's trading at $3.70.
Imperial Sugar Company (Nasdaq:IPSU) hit a new 52-week low Thursday as it is currently trading at $6.48, below its previous 52-week low of $6.50 with 168,141 shares traded as of 12:35 p.m. ET. Average volume has been 439,500 shares over the past 30 days.