Science & Technology
Science and Technology
Science and Technology
Fri, November 11, 2011
Thu, November 10, 2011 The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Pinnacle
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible... -- NEW YORK, Nov. 10, 2011 /PRNewswire/ --
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Pinnacle Data Systems, Inc. in Connection with the Sale of the Company to Avnet, Inc.
NEW YORK, Nov. 10, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Pinnacle Data Systems, Inc. ("PDSi" or the "Company") (AMEX: [ PNS ]) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Avnet, Inc. (NYSE: AVT). Under the terms of the transaction, PDSi shareholders will receive $2.40 per share of PDSi stock they own which equates to an equity value of approximately $22 million as of September 30, 2011.
Click here to learn how to join the action: [ http://www.zlk.com/pinnacle-data-systems-pdsi ], or call: 877-363-5972.
The investigation concerns whether the PDSi Board of Directors breached their fiduciary duties to PDSi stockholders by failing to adequately shop the Company before entering into this transaction and whether Avnet, Inc. is underpaying for PDSi shares, thus unlawfully harming PDSi stockholders.
If you own common stock in PDSi 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 [ http://www.zlk.com ].
Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation 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 ]
SOURCE Levi & Korsinsky, LLP
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