Sealy Corp. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Sale of Sealy Corp.
September 27 2012 - 10:09AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Sealy Corp. (“Sealy”)(NYSE: ZZ)
to Tempur-Pedic International for shareholders. Under the proposed
transaction valued at approximately $1.3 billion including the
assumption of debt, Sealy shareholders will only receive $2.20 in
cash for each share of Sealy stock owned, which is only a 3%
premium over the previous closing price and well below the 52 week
high of $2.45.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The investigation centers on whether Sealy shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues Sealy stock, and whether
Sealy’s board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. “Due to the lack of a
significant premium to the shareholders and other factors, we
believe that the transaction may undervalue Sealy stock. Our
lawsuit will seek to obtain the highest share price for all
shareholders,” said shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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