NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky has commenced an investigation the Board of Directors of Zale Corporation (“Zale” or “the Company”) (NYSE: ZLC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Signet Jewelers Limited (NYSE: SIG).
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Under the terms of the transaction, Zale shareholders will receive $21 in cash for each share of Zale stock they own. The deal has a total approximate value of $1.4 billion. The investigation concerns whether the Zale Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Signet Jewelers is underpaying for Zale shares. Shareholder Golden Gate Capital has already agreed to tender its 22% of Zale shares.
If you own Zale common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/zale-corporation-zlc.
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.