Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Monterey Gourmet Foods Inc. - PSTA

• Press Release
• Source: Levi & Korsinsky
• On 2:58 pm EDT, Monday October 12, 2009

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Monterey Gourmet Foods Inc. (“Monterey” or the “Company”) (NasdaqGM: PSTA - News) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Pulmuone USA Inc. ("Pulmuone"). Under the terms of the agreement, Monterey shareholders will receive $2.70 in cash for each share of Monterey common stock they own for a total transaction value of approximately $45.8 million. The investigation concerns whether Pulmuone is underpaying for the Company thereby harming Monterey shareholders.

If you own common stock in Monterey and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/psta1.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.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com