NEW YORK, June 13, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of The Timberland Company ("Timberland" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to VF Corporation. Under the terms of the agreement, Timberland shareholders will receive $43 per share of Timberland stock they own, for a total transaction of approximately $2 billion.
Click here to learn how to join the action: http://zlk.9nl.com/timberland, or call: 877-363-5972.
The investigation concerns whether the Timberland Board of Directors breached their fiduciary duties to Timberland stockholders and whether VF Corporation is underpaying for Timberland shares. In particular, the investigation is focused on whether VF Corporation is taking advantage of the temporary decline in the Company's stock price to cash out shareholders at an unfair price. In the last month, Timberland shares fell the most in more than 23 years after increasing costs for labor, materials and transportation ate into profit, causing shares to fall from about $45 per share. The proposed deal price of $43 per share therefore represents no premium, but in fact a discount, to Timberland's recent trading price.
If you own common stock in Timberland 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, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/timberland.
Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm 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. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: 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 www.zlk.com
