NEW YORK, Feb. 26, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Zale Corporation ("Zale" or "the Company") (NYSE:ZLC) 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 Signet Jewelers Limited (NYSE:SIG). A complaint was filed in Delaware state court.
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Under the terms of the transaction, Zale shareholders will receive $21 in cash for each share of Zale stock they own. The deal has a total approximate value of $1.4 billion. The claims concern whether the Zale Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Signet Jewelers is underpaying for Zale shares. Shareholder Golden Gate Capital has already agreed to tender its 22% of Zale shares.
If you own Zale 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://zlk.9nl.com/zale-corporation-zlc.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have 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: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP