The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Westway Group, Inc. In Connection With The Sale Of The Company To EQT Infrastructure II
NEW YORK, Jan. 2, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Westway Group, Inc. ("Westway" or the "Company") (NasdaqCM: WWAY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of EQT Infrastructure II. (Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO) Click here to learn how to join the action: http://zlk.9nl.com/westway-wway, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, Westway shareholders will receive $6.70 for each share of Westway stock they own. The transaction has a total approximate value of $419 million. Westway has also agreed to sell its liquid feed supplement business and certain storage terminals to an affiliate of ED&F Man Holdings Limited for approximately $115 million. The investigation concerns whether the Westway Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether EQT Infrastructure II is underpaying for Westway shares, thus unlawfully harming Westway stockholders. In particular, Westway stock has traded above the offer price as recently as September 19, 2012. If you own common stock in Westway 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 http://zlk.9nl.com/westway-wway. Levi & Korsinsky is a national firm with offices in New York, New Jersey, 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: (866) 367-6510 www.zlk.com
Shares of Westway Group (Nasdaq:WWAY) have taken a tremendous swing upward. The stock is trading at $5.41 as of 9:53 a.m. ET, 20.9% above Tuesday's closing price of $4.48. Volume is at 69,683, 8.3 times the daily average of 8,400.