Levi & Korsinsky is investigating the Board of Directors of Dynegy Inc. (NYSE: DYN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to The Blackstone Group.
New York, NY, August 14, 2010 — Levi & Korsinsky is investigating the Board of Directors of Dynegy Inc. (“Dynegy” or the “Company”) (NYSE: DYN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to The Blackstone Group L.P. (“Blackstone”) (NYSE: BX). Under the terms of the transaction, Dynegy shareholders will receive $4.50 in cash for each Dynegy share they own for a total transaction value of approximately $4.7 billion, including the assumption of debt.
The investigation concerns whether the Dynegy Board of Directors breached their fiduciary duties to Dynegy stockholders by failing to adequately shop the Company before entering into this transaction and whether Blackstone is underpaying for Dynegy shares, thus unlawfully harming Dynegy stockholders. In particular, Dynegy stock traded at $5.35 per share as recently as May 28, 2010 and at least one analyst set a price target for Dynegy stock at $7.50 per share.
If you own common stock in Dynegy and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500 or visit http://www.zlk.com/dynergy-dyn.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.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., Tel: 212-363-7500, Fax: 212-363-7171, www.zlk.com
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Contact:
Jared Morine
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004
212-363-7500
[email protected]
http://www.zlk.com
