NEW YORK, April 23, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Morgan's Foods Inc. ("Morgan's Foods" or the "Company") (OTC:MRFD) 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 Apex Restaurant Management, Inc. A complaint was filed in Ohio state court.
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Under the terms of the transaction, Morgan's Foods shareholders will receive $5.00 in cash for each share of Morgan's Foods stock they own. The claims concern whether the Morgan's Foods 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 Apex Restaurant Management, Inc. is underpaying for Morgan's Foods shares.
If you own Morgan's Foods 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/morgans-foods-mrfd.
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