Levi & Korsinsky is investigating the Board of Directors of American Italian Pasta Company (“AIPC” or the “Company”) (NasdaqGS: AIPC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Ralcorp Holdings Inc. ("Ralcorp") (NYSE: RAH). Under the terms of the transaction, AIPC shareholders will receive $53.00 in cash for each AIPC share of common stock they own for a total transaction value of approximately $1.2 billion.

For the quarter ending January 1, 2010, AIPC reported total revenue of $148.946 million and net income of $20.699 million as compared to total revenue and net income of $149.104 million and $15.832 million, respectively, for the prior quarter. The investigation concerns whether the AIPC Board of Directors breached their fiduciary duties to AIPC stockholders by failing to adequately shop the Company before entering into this transaction and whether Ralcorp is underpaying for AIPC shares, thus unlawfully harming AIPC stockholders. In particular, at least one analyst set a price target for AIPC stock at $60.00 per share.

If you own common stock in AIPC 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 or visit http://www.zlk.com/american-italian-pasta-company-aipc.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.

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