Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Avocent Corp. - AVCT

• Press Release
• Source: Levi & Korsinsky, LLP
• On 1:15 pm EDT, Monday October 12, 2009

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Avocent Corp. (“Avocent” or the “Company”) (NasdaqGS: AVCT - News) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Emerson Electric Co. ("Emerson"). Under the terms of the agreement, Avocent shareholders will receive $25.00 in cash for each share of Avocent common stock they own for a total transaction value of approximately $1.2 billion.

Related Quotes

Symbol	Price	Change
AVCT	24.96	-0.01

{"s" : "avct","k" : "c10,l10,p20,t10","o" : "","j" : ""}

The investigation concerns whether the Avocent Board of Directors breached their fiduciary duties to Avocent shareholders given that at least one analyst has set a $27.00 per share price target for Avocent stock and the Board agreed to a no-solicitation provision and a $35 million termination fee and/or reimburse Emerson for transaction expenses up to $7.5 million that will all but ensure that no superior offer will ever be forthcoming.

If you own common stock in Avocent and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/avct1.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