Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty
(NewDesignWorld Press Release Center) -- New York, NY, September 08, 2010 -- Levi & Korsinsky is investigating the Board of Directors of ZymoGenetics, Inc. (“ZymoGenetics” or the “Company”) (NasdaqGM: ZGEN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Bristol-Myers Squibb Co. ("Bristol-Myers Squibb") (NYSE: BMY). Under the terms of the transaction, ZymoGenetics shareholders will receive $9.75 in cash for each share of ZymoGenetics common stock they own for a total transaction value of approximately $885 million.
The investigation concerns whether the ZymoGenetics Board of Directors breached their fiduciary duties to ZymoGenetics stockholders by failing to adequately shop the Company before entering into this transaction and whether Bristol-Meyers Squibb is underpaying for ZymoGenetics shares, thus unlawfully harming ZymoGenetics stockholders.
If you own common stock in ZymoGenetics 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/zymogenetics-zgen.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.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Fax: (212) 363-7171, www.zlk.com
Press Contact:
Jared Morine
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004
212-363-7500
jmorine@zlk.com
http://www.zlk.com
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