NEW YORK, Dec. 24, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Trunkbow International Holdings, Ltd. ("Trunkbow" or the "Company") (Nasdaq:TBOW) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Trunkbow Merger Group Limited, a company owned by Dr. Wanchun Hou, Chairman of the Trunkbow Board of Directors, and Mr. Qiang Li, Chief Executive Officer and Director. A complaint was filed in Nevada state court.
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Under the terms of transaction, Trunkbow shareholders will receive $1.46 in cash for each share of Trunkbow stock they own. The claims concern whether Wanchun and Qiang are taking advantage of their positions within the Company to purchase Trunkbow at an unfair price. Trunkbow has a reported book value of $2.70 per share for the most recent quarter.
If you own Trunkbow common stock 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://9nl.me/trunkbow-international-holdings/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut 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. 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.comSource:Levi & Korsinsky, LLP