Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Burlington Northern Santa Fe Corp. - BNI
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Wed, 04 Nov 2009 14:35:28 GMT |
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Levi & Korsinsky, LLP
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NEW YORK - (Business Wire) Levi & Korsinsky is investigating the Board of Directors of Burlington Northern Santa Fe Corp. (“Burlington” or the “Company”) (NYSE: BNI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Berkshire Hathaway, Inc. (NYSE: BRK). Under the terms of the transaction, Berkshire will acquire the remaining 77.4% of Burlington shares it does not already own in a cash and stock valued at approximately $44 billion. The Company’s stockholders will receive either $100 in cash or a variable number of shares of Berkshire Class A or Class B common stock, subject to proration if the elections of the shareholders do not equal approximately 60 percent cash and 40 percent stock. The investigation concerns whether Burlington's Board of Directors have breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Berkshire is underpaying for Burlington's shares, thus unlawfully harming Burlington's stockholders. If you own common stock in Burlington and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/bni1.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
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