SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches
SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of MOD-PAC Corp. in Connection with a Going Private Proposal
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating the Board of Directors of MOD-PAC Corp. ("MOD-PAC" or the "Company") (NasdaqGM: MPAC) for possible breaches of fiduciary duty and other violations of state law in connection with a going private proposal from Daniel G. Keane, the Company's President and CEO, and Chairman Kevin T. Keane.
Click here to learn more about the investigation: http://zlk.9nl.com/mod-pac-technologies-mpac, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the proposed transaction, MOD-PAC shareholders would receive $7.20 in cash for each share of MOD-PAC stock they own. The transaction has a total approximate value of $25 million. The investigation concerns, among other things, whether the proposed consideration to be paid to MOD-PAC shareholders is unfair, inadequate, and substantially below the fair or inherent value of MOD-PAC, and whether the President and Chairman are taking advantage of their positions as Board members and shareholders of an aggregate 43% of MOD-PAC common shares in order to purchase the Company at an unfair price. In particular, MOD-PAC stock a reported Book Value of $8.03 per share.
If you own common stock in MOD-PAC and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/mod-pac-technologies-mpac.
Levi & Korsinsky is a national firm with offices in New York 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.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
KEYWORDS: United States North America New York
The article SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of MOD-PAC Corp. in Connection with a Going Private Proposal originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.