SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Robbins & Myers, Inc. in Connection with the Sale of the Company to National Oilwell Varco, Inc.
NEW YORK, Aug. 16, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Robbins & Myers, Inc. ("Robbins & Myers" or the "Company") (NYSE: RBN) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to National Oilwell Varco, Inc. (NYSE: NOV).
Under the terms of the transaction, Robbins & Myers shareholders will receive $60 per Robbins & Myers share they own, for a total approximate transaction value of $2.5 billion. The investigation concerns whether the Robbins & Myers Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether National Oilwell Varco, Inc. is underpaying for Robbins & Myers shares, thus unlawfully harming Robbins & Myers stockholders. In particular, at least one analyst set a price target for Robbins & Myers stock at $72 per share.
If you own common stock in Robbins & Myers and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/robbins-myers-rbn.
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.
CONTACT: 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 www.zlk.com