Press release from PR Newswire
SMITHFIELD FOODS SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by Board of Smithfield Foods Inc. in Connection with Sale to Shuanghui International Holdings Ltd.
Thursday, May 30, 2013
SMITHFIELD FOODS SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by Board of Smithfield Foods Inc. in Connection with Sale to Shuanghui International Holdings Ltd.16:26 EDT Thursday, May 30, 2013
NEW YORK, May 30, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Smithfield Foods Inc. ("Smithfield" or the "Company") (NYSE: SFD) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to the Shuanghui International Holdings Ltd.
Click here to learn more about the investigation http://zlk.9nl.com/smithfield-foods-sfd/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Smithfield shareholders will receive $34 for each share of Smithfield stock they own. The transaction has a total approximate value of $7.1 billion, including the assumption of debt. The investigation concerns whether the Smithfield Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether Shuanghui International Holdings Ltd. is underpaying for Smithfield, thus unlawfully harming Smithfield shareholders. In particular, at least one analyst set a price target for Smithfield stock at $48.00 per share.
If you own common stock in Smithfield 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 visit http://zlk.9nl.com/smithfield-foods-sfd/.
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, LLPJoseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
SOURCE Levi & Korsinsky, LLP