The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Baldwin Technology Company, Inc. in Connection With the Sale of the Company to Forsyth Baldwin, LLC
NEW YORK, NY -- (Marketwire) -- 12/30/11 -- Levi & Korsinsky notifies investors of Baldwin Technology Company, Inc. ("Baldwin" or the "Company") (NYSE: BLD) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Forsyth Baldwin, LLC ("Forsyth") in a going private transaction. Under the terms of the transaction, Baldwin shareholders will receive $0.96 in cash for each share of Baldwin Class A or Class B Common Stock, subject to adjustment at closing based on certain criteria, including the extent that the difference between Baldwin's aggregate cash balances and the balance of aged accounts payable is less than $1,800,000, provided that such adjustments cannot reduce the per share consideration below $0.90. A complaint was filed in Delaware state court.
Click here to learn how to join the action: http://zlk.9nl.com/Baldwin-bld, or call: 877-363-5972.
The claims concern whether the Baldwin Board of Directors breached their fiduciary duties to Baldwin stockholders by failing to adequately shop the Company before entering into this transaction and whether Forsyth is underpaying for Baldwin shares, thus unlawfully harming Baldwin stockholders. In particular, as recently as October of this year, Baldwin stock traded at $1.22 per share and at least one analyst set a price target for Baldwin stock at $1.80 per share.
If you own common stock in Baldwin 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 http://www.zlk.com/baldwin-technology-bld.html.
Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171