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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Ki

^{Published on 2010-10-12 10:05:21 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of King Pharmaceuticals, Inc. (aKinga or the aCompanya) (NYSE:KG) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Pfizer, Inc. (aPfizera). Under the terms of the transaction, King shareholders will $14.25 in cash for each share of King common stock, for a total transaction value of approximately $3.6 billion.

Click here to learn how to join the action: [ http://www.zlk.com/king-kg.html ], or call: 877-363-5972.

The investigation concerns whether the King Board of Directors breached their fiduciary duties to King stockholders by failing to adequately shop the Company before entering into this transaction and whether Pfizer is underpaying for King shares, thus unlawfully harming King stockholders. In particular, at least one analyst set a price target for King stock at $15.00 per share.

If you own common stock in King 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://www.zlk.com/king-kg.html ].

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.