SHAREHOLDER ALERT: Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of GeoEye Inc. In Connection With The Sale Of The Company To DigitalGlobe, Inc.
Levi & Korsinsky is investigating the Board of Directors of GeoEye, Inc.
Levi & Korsinsky is investigating the Board of Directors of GeoEye, Inc. (“GeoEye” or the “Company”) (Nasdaq: GEOY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to DigitalGlobe, Inc (“Digital Globe”) (NYSE: DGI). Click here to learn more about the investigation: http://zlk.9nl.com/geoeye-geoy, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, GeoEye shareholders may elect to receive 1.137 shares of DigitalGlobe common stock and $4.10 per share, or $20.27 in cash, or 1.425 shares of DigitalGlobe common stock for each share of GeoEye stock they own. The transaction has a total approximate value of $453 million. The investigation concerns whether the GeoEye Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether DigitalGlobe is underpaying for GeoEye shares, thus unlawfully harming GeoEye stockholders. In particular, GeoEye stock has traded as high as $24.83 as recently as May 4, 2012. If you own common stock in GeoEye 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 visit http://zlk.9nl.com/geoeye-geoy. 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.
GeoEye (Nasdaq:GEOY) hit a new 52-week low Monday as it is currently trading at $17.92, below its previous 52-week low of $17.98 with 23,389 shares traded as of 10:10 a.m. ET. Average volume has been 277,200 shares over the past 30 days.