Levi & Korsinsky is investigating the Board of Directors of Baldor Electric Company for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to ABB Ltd.
New York, NY, December 01, 2010 -- Levi & Korsinsky is investigating the Board of Directors of Baldor Electric Company (“Baldor” or the “Company”) (NYSE: BEZ) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to ABB Ltd. (“ABB”) (NYSE: ABB). Under the terms of the transaction, Baldor shareholders will receive $63.50 per share in cash for each share they own for a total transaction value of approximately $4.2 billion, including the assumption of debt.
Click here to learn how to join the action: http://www.zlk.com/baldor-electric-bez.html, or call: 877-363-5972.
The investigation concerns whether the Baldor Board of Directors breached their fiduciary duties to Baldor stockholders by failing to adequately shop the Company before entering into this transaction and whether ABB is underpaying for Baldor shares, thus unlawfully harming Baldor stockholders.
If you own common stock in Baldor 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/baldor-electric-bez.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
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