NEW YORK, Dec. 31, 2012 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Spartech Corporation ("Spartech" or the "Company") (NYSE:SEH) 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 PolyOne Corporation (NYSE:POL). A complaint was filed in Delaware state court.
Click here to learn more about the investigation: http://zlk.9nl.com/spartech-seh, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Spartech shareholders will receive $2.67 in cash and 0.3167 shares of PolyOne common stock for each share of Spartech stock they own, representing an approximate value of $8.00 per share. The transaction has a total approximate value of $393 million, including the assumption of debt. The claims concern whether the Spartech Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether PolyOne Corporation is underpaying for Spartech shares, thus unlawfully harming Spartech stockholders.
If you own common stock in Spartech 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/spartech-seh.
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. 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