The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of The Pep Boys - Manny, Moe & Jack in Connection with the Sale of the Company to The Gores Group

Published on Wednesday, 01 February 2012 15:10 Written by TradersHuddle Staff

NEW YORK, Feb. 1, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of The Pep Boys - Manny, Moe & Jack ("Pep Boys " or the "Company") (NYSE: PBY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to The Gores Group.  Under the terms of the transaction, Pep Boys shareholders will receive $15.00 for each share of Pep Boys stock they own.  The transaction has a total approximate value of $1.0 billion.

Click here to learn how to join the action: http://www.zlk.com/pep-boys-pby, or call: 877-363-5972.

The investigation concerns whether the Pep Boys Board of Directors breached their fiduciary duties to Pep Boys stockholders by failing to adequately shop the Company before entering into this transaction and whether The Gores Group is underpaying for Pep Boys shares, thus unlawfully harming Pep Boys stockholders.  In particular, at least one analyst set a price target of $17.00 per Pep Boys share.

If you own common stock in PBY and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.

Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP

Joseph Levi, Esq.

Eduard Korsinsky, Esq.

30 Broad Street - 15th Floor

New York, NY 10004

Tel: (212) 363-7500

Toll Free:  (877) 363-5972

Fax: (212) 363-7171

www.zlk.com 

SOURCE Levi & Korsinsky