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Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Mirant Corporation - MIR
[April 11, 2010]

Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Mirant Corporation - MIR


NEW YORK --(Business Wire)--

Levi & Korsinsky is investigating the Board of Directors of Mirant Corporation ("Mirant" or the "Company") (NYSE: MIR) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to RRI Energy, Inc. ("RRI") (NYSE: RRI). Under the terms of the transaction, Mirant shareholders will receive 2.835 RRI shares for each Mirant share they own. Based on the previous day's closing prices, the proposed transaction values Mirant stock at approximately $11.20 per share for a total transaction value of approximately $1.61 billion.

he investigation concerns whether the Mirant Board of Directors breached their fiduciary duties to Mirant stockholders by failing to adequately shop the Company before entering into this transaction and whether RRI is underpaying for Mirant shares, thus unlawfully harming Mirant stockholders. In particular, (i) Mirant stock traded in excess of $17.00 per share as recently as January 7, 2010; (ii) the Company has a book value of $29.77 per share; and (iv) at least one analyst set a price target for Mirant stock at $19.00 per share.



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



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