SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of BrightPoint, Inc. In Connection With The Sale Of The Company To Ingram Micro Inc.
NEW YORK, July 11, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of BrightPoint, Inc. ("BrightPoint" or the "Company") (Nasdaq: CELL) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Ingram Micro Inc. (NYSE: IM). (Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO ) Click here to learn how to join the action: http://zlk.9nl.com/brightpoint-cell, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, BrightPoint shareholders will receive $9.00 per share of BrightPoint stock they own. The transaction has an approximate total value of $840 million, including the assumption of debt. The investigation concerns whether the BrightPoint Board of Directors breached their fiduciary duties to BrightPoint stockholders by failing to adequately shop the Company before entering into this transaction and whether Ingram Micro Inc. is underpaying for BrightPoint shares, thus unlawfully harming BrightPoint stockholders. In particular, BrightPoint traded as high as $11.99 per share as recently as January 20, 2012. If you own common stock in BrightPoint 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://zlk.9nl.com/brightpoint-cell. 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: Levi & Korsinsky, LLP Joseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com
Brightpoint (Nasdaq:CELL) hit a new 52-week low Wednesday as it is currently trading at $4.90, below its previous 52-week low of $4.91 with 70,456 shares traded as of 11:49 a.m. ET. Average volume has been 634,800 shares over the past 30 days.
Brightpoint (Nasdaq:CELL) hit a new 52-week low Monday as it is currently trading at $5.02, below its previous 52-week low of $5.04 with 22,355 shares traded as of 9:49 a.m. ET. Average volume has been 656,500 shares over the past 30 days.