Levi & Korsinsky is investigating the Board of Directors of Quixote Corp. (“Quixote” or the “Company”) (NasdaqGM: QUIX) for possible breaches of fiduciary duty
New York, NY, January 04, 2010 — Levi & Korsinsky is investigating the Board of Directors of Quixote Corp. (“Quixote” or the “Company”) (NasdaqGM: QUIX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Trinity Industries, Inc. (Trinity”) (NYSE: TRN). Under the terms of the deal, Quixote shareholders are to receive $6.38 in cash for each share of Quixote common stock they own for a total transaction value of approximately $61 million.
The investigation concerns whether the Quixote Board of Directors breached their fiduciary duties to Quixote stockholders by failing to adequately shop the Company before entering into this transaction and whether Trinity is underpaying for Quixote shares, thus unlawfully harming Quixote stockholders. The offer price is below the 52-week high for Quixote shares and the $61 million transaction value is substantially below the Company’s revenues of $95.82 million for the last twelve months.
If you own common stock in Quixote and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/quix1.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, 30 Broad Street – 15th Floor, New York, NY 10004, T: 212-363-7500, F: 212-363-7171, www.zlk.com
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Contact:
Joseph Levi
Levi & Korsinsky, LLP
30 Broad Street – 15th Floor
New York, NY 10004
212-363-7500
[email protected]
