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10785

The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Board of Del Monte Foods

Levi & Korsinsky is investigating the Board of Directors of Del Monte Foods Co. for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Kohlberg Kravis Roberts, Vestar Capital Partners and Centerview Partners.

New York, NY, November 30, 2010 -- Levi & Korsinsky is investigating the Board of Directors of Del Monte Foods Co. (“Del Monte” or the “Company”) (NYSE:DLM) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Kohlberg Kravis Roberts, Vestar Capital Partners and Centerview Partners. Under the terms of the transaction, Del Monte shareholders will receive $19.00 per share in cash for each share they own for a total transaction value of approximately $4 billion.

Click here to learn how to join the action: http://www.zlk.com/delmontefoods-dlm.html, or call: 877-363-5972.

The investigation concerns whether the Del Monte Board of Directors breached their fiduciary duties to Del Monte stockholders by failing to adequately shop the Company before entering into this transaction and whether the buyers are underpaying for Del Monte shares. In particular, at least one analyst set a price target for Del Monte common stock at $22 per share.

If you own common stock in Del Monte and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/delmontefoods-dlm.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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 litigations involving mergers and acquisitions. 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 - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com

Contact:
Jared Morine
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004
212-363-7500
jmorine@zlk.com
http://www.zlk.com  
 
 

Contact Information

  • Name: Jared Morine

    Company: Levi & Korsinsky, LLP

    Telphone: 212-363-7500 , -

    Address: 30 Broad Street, 15th Floor
    New York, NY 10004

    Email: jmorine@zlk.com