BOSTON, Sept. 27, 2012 /PRNewswire/ -- Block &
Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors
nationwide, has commenced an investigation into possible breaches
of fiduciary duty by the Board of Directors of Sealy Corporation
("Sealy" or the "Company") (NYSE: ZZ) regarding the proposed
acquisition of the Company by Temper-Pedic International Inc.
("Tempur-Pedic") (NYSE: TPX) through an all cash tender
offer.
Under the terms of the agreement, Sealy shareholders will
receive $2.20 for each Sealy share of
common stock. Based on the Company's closing share price on
September 26, 2012, this amounts to
less than a 3 % premium. Block & Leviton's investigation
seeks to determine, among other things, whether Sealy's Directors
breached their fiduciary duties by failing to maximize shareholder
value in the proposed transaction. Sealy's shares traded at
$2.33 in pre-market trading prior to
the merger announcement on Thursday,
September 27, 2012, well above the offer price. The
Company's share price hit a 52-week high of $2.45 in April
2012.
If you have information relevant to this investigation, or if
you are a Sealy shareholder and have questions about your legal
rights, please contact attorney Steven P.
Harte, Esq. at (617) 398-5600 or email him at
Steven@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors
nationwide for violations of securities laws. The firm's
lawyers have collectively been prosecuting securities cases on
behalf of investors for over 50 years. This notice may
constitute attorney advertising.
Contact:
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
steven@blockesq.com
(617) 389-5600
SOURCE Block & Leviton LLP