Levi & Korsinsky is investigating the Board of Directors of Todd Shipyards Corporation (“Todd” or the “Company”) (NYSE: TOD) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Vigor Industrial LLC (“Vigor”).
New York, NY, January 12, 2010 -- Levi & Korsinsky is investigating the Board of Directors of Todd Shipyards Corporation (“Todd” or the “Company”) (NYSE: TOD) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Vigor Industrial LLC (“Vigor”). Under the terms of the transaction, Todd shareholders will receive $22.27 in cash for each outstanding share of Todd stock they own for a total transaction value of approximately $130 million.
The investigation concerns whether the Todd Board of Directors breached their fiduciary duties to Todd stockholders by failing to adequately shop the Company before entering into this transaction and whether Vigor is underpaying for Todd shares, thus unlawfully harming Todd stockholders.
If you own common stock in Todd 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://www.zlk.com/todd-shipyards.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
Levi & Korsinsky, LLP
30 Broad St, 15th Floor
New York, NY 10004