NEW YORK, April 5, 2023 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To All Persons or Entities who own TravelCenters of America Inc. ("TravelCenters" or the "Company") (NASDAQ: TA) common stock:
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of TravelCenters by BP Products North America Inc. ("BP"). On February 16, 2023, the Company announced that it had entered into an agreement and plan of merger (the "Merger") with BP, an indirect subsidiary of BP p.l.c. (NYSE: BP). As a result of the Merger, TravelCenters stockholders are anticipated to receive only $86.00 per share in cash in exchange for each share of TravelCenters. On March 14, 2023, ARKO Corp. ("ARKO") submitted a merger bid of $92.00 per share to the Board of Directors of TravelCenters, but the TravelCenters Board of Directors has refused to engage in discussions with ARKO despite the clear superiority of ARKO's proposal.
To learn more about the action and your rights, go to:
https://zlk.com/mna2/travelcenters-of-america-inc-lawsuit-submission-form
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500. There is no cost or obligation to you.
The TravelCenters Merger investigation concerns whether the executives and directors of TravelCenters have breached their fiduciary duties and harmed stockholders by agreeing to and failing to terminate an inadequate transaction with BP while refusing to engage with ARKO and move forward with the Merger with BP, and whether all material facts have been properly disclosed to stockholders.
Levi & Korsinsky is a nationally recognized firm with offices in New York, Connecticut, California, and Washington, D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. 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 E. Levi, Esq.
55 Broadway, Suite #427
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
Share this article