GLOBECOMM SYSTEMS INVESTOR ALERT: Levi & Korsinsky Investigates Possible Breaches of Fiduciary Duty by Board of Globecomm Systems Inc. Regarding Sale of Company to Affiliate of Wasserstein & Co.
NEW YORK, Aug. 27, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Globecomm Systems Inc. ("Globecomm" or the "Company") (NasdaqGS: GCOM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of Wasserstein & Co.
Click here to learn more about the investigation http://zlk.9nl.com/globecomm-systems-inc-gcom/, or call: 877-363-5972.
Under the terms of the transaction, Globecomm shareholders will receive $14.15 in cash for each share of Globecomm stock they own. The transaction has a total approximate value of $340 million. The investigation concerns whether the Globecomm Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Wasserstein & Co. is underpaying for Globecomm shares. In particular, Globecomm shares have traded higher than the offer price as recently as August 16, 2013, and at least one analyst set a price target for Globecomm stock at $18.00 per share.
If you own common stock in Globecomm and wish to obtain additional information or discuss your rights, 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/globecomm-systems-inc-gcom/.
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.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP