NEW YORK, May 11, 2009 (GLOBE NEWSWIRE) -- The law firm of Levi & Korsinsky LLP ("L&K") has initiated an investigation into the circumstances surrounding the acquisition of Nashua Corporation ("Nashua" or the "Company") (Nasdaq:NSHA) by Cenveo, Inc. (NYSE:CVO). L&K is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Nashua arising out of their agreement to sell the Company to Cenveo for combination of cash and stock valued, as of May 6, 2009, at approximately $6.88 per Nashua share.
The transaction appears to be unfair given that, among other things, the Company's shares traded as high as $9.84 per share as recently as September 2008. Thus, the price agreed to by Board appears to offer little premium to shareholders. Also, Cenveo has entered into a voting agreement with certain members of Nashua's directors and executive officers, including Nashua's CEO and President, and other entities, who collectively own approximately 23% of Nashua's common stock, to vote in favor of the proposed transaction with Cenveo.
If you own common stock in Nashua and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/nsha.html
L&K has extensive experience in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.