BALA CYNWYD, Pa., Sept. 29, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sealy Corporation ("Sealy" or the "Company") (NYSE: ZZ) relating to the proposed acquisition by Tempur-Pedic International, Inc. ("Tempur-Pedic") (NYSE: TPX).
Under the terms of the transaction, Sealy shareholders will receive only $2.20 in cash for each share of Sealy stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sealy for not acting in the Company's shareholders' best interests in connection with the sale process to Tempur-Pedic. The transaction may undervalue the Company as the transaction represents little or no premium for Sealy shareholders. For example Sealy stock traded at $2.32 as recently as April 17, 2012 and traded at $2.97 on April 28, 2011.
If you own shares of Sealy stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com visiting http://brodsky-smith.com/481-zz-sealy-corporation.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC