NEW YORK, May 25, 2012 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of BIDZ.com, Inc.
("BIDZ" or the "Company") (Nasdaq: BIDZ) for possible breaches of
fiduciary duty and other violations of state law in connection with
the sale of the Company to Glendon Group, Inc.
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To get more information go to
the http://zlk.9nl.com/bidzcom-bidz, or call: 877-363-5972.
There is no cost or obligation to you.
Under the terms of the transaction, BIDZ shareholders will
receive $0.49 per share of BIDZ stock
they own. Shareholders who collectively own approximately
36.6% of the Company's outstanding shares have already agreed to
tender their shares. The investigation concerns whether the BIDZ
Board of Directors breached their fiduciary duties to BIDZ
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Glendon Group, Inc. is
underpaying for BIDZ shares, thus unlawfully harming BIDZ
stockholders. In particular, BIDZ shares traded as high as
$0.73 per share as recently as
February 27, 2012, and at least one
analyst set a price target of $1.25
per share for the most recent quarter.
If you own common stock in BIDZ 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://zlk.9nl.com/bidzcom-bidz.
Levi & Korsinsky is a national firm with offices in
New York and Washington D.C.
The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
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 securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. 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 - 24th 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