Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of I-Flow Corp. - IFLO
12 Ottobre 2009 - 4:10PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
I-Flow Corp. (“I-Flow” or the “Company”) (NasdaqGM: IFLO) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to
Kimberly-Clark Corp. Under the terms of the agreement, I-Flow
shareholders will receive $12.65 in cash for each share of I-Flow
common stock they own for a total transaction value of
approximately $276 million.
The investigation concerns whether the I-Flow Board of Directors
breached their fiduciary duties to I-Flow shareholders by agreeing
to sell the Company at an unfair price given that the Company's
shares traded at $12.95 as recently as October 2, 2009 and that the
Board agreed to a no-solicitation provision and a $12,836,000
termination fee that will all but ensure that no superior offer
will ever be forthcoming.
If you own common stock in I-Flow and wish to obtain additional
information, please contact us at the number listed below or visit
http://www.zlk.com/iflo1.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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