Jun. 13, 2011 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 06/13/11 -- Levi & Korsinsky notifies investors in Graham Packaging Company Inc. (NYSE: GRM) of claims of possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Silgan Holdings Inc. (NASDAQ: SLGN). Under the terms of the transaction, Graham Packaging shareholders will receive $4.75 in cash and 0.402 shares of Silgan common stock per Graham Packaging share they own. The transaction values Graham packaging stock at approximately $19.56 per share for a total transaction value of approximately $4.1 billion, including the assumption of debt.
Click here to learn how to join the action: http://zlk.9nl.com/graham-classaction, or call: 877-363-5972.
The claims concern whether the Graham Packaging Board of Directors breached their fiduciary duties to Graham Packaging stockholders by failing to adequately shop the Company before entering into this transaction and whether Silgan Holdings Inc. is underpaying for Graham Packaging shares. In particular, at least one analyst set a price target of $22.00 per share. Furthermore, on June 13, 2011 the Company announced that it received from an unnamed entity an unsolicited buyout offer at $25 per share.
A complaint challenging the transaction was filed in The Court of Common Pleas of Pennsylvania. If you own common stock in Graham Packaging and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/graham-classaction.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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 litigations involving mergers and acquisitions. 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 - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com