INVESTOR ALERT: Levi & Korsinsky, LLP Announces Investigation of Rockwood Holdings, Inc. and Its Board of Directors In Connection With the Sale of the Company to Albemarle Corporation -- ROC - WTVM.com-Columbus, GA News Weather & Sports
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SOURCE Levi & Korsinsky, LLP
NEW YORK, July 16, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Rockwood Holdings, Inc. ("Rockwood" or "the Company") (NYSE: ROC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Albemarle Corporation (NYSE: ALB).
Under the terms of the transaction, Rockwood shareholders will receive $50.65 in cash and 0.4803 of a share of Albemarle common stock for each share of Rockwood they own, representing a value of $85.53 per share. The investigation concerns whether the Board of Rockwood breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Albemarle Company is underpaying for Rockwood shares. In particular, at least one analyst set a price target for Rockwood stock at $93.00 per share.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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.com