NEW YORK, July 26, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Nash-Finch Company ("Nash-Finch" or the "Company") (Nasdaq:NAFC) of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Spartan Stores, Inc. ("Spartan") (Nasdaq:SPTN). A complaint was filed in Minnesota state court.
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Under the terms of the transaction, Nash-Finch shareholders will receive 1.20 shares of Spartan common stock for each share of Nash-Finch stock they own. Based on prior closing prices, the proposed transaction implies a value of $25.44 per share for NAFC stock and a total approximate value of $1.3 billion, including the assumption of debt. The claims concern whether the Nash-Finch Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether Spartan is underpaying for Nash-Finch, thus unlawfully harming Nash-Finch shareholders.
If you own common stock in Nash-Finch 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/nash-finch-nafc/.
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: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP