NEW YORK, March 6, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of OfficeMax Incorporated ("OfficeMax" or the "Company") (NYSE:OMX) 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 Office Depot, Inc. ("Office Depot") (NYSE:ODP). A complaint was filed in Illinois state court.
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Under the terms of the transaction, OfficeMax shareholders will receive 2.69 shares of Office Depot stock for each share of OfficeMax stock they own, representing a value of approximately $13.50 per share. The deal is valued at approximately $1.2 billion. The claims concern whether the OfficeMax Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction. At least one analyst set a price target for OfficeMax stock at $17.00 per share.
If you own common stock in OfficeMax and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/officemax-omx/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, 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. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. 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