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The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of BIDZ.com, Inc. in Connection with the Sale of the Company to Glendon Group, Inc.

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The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of BIDZ.com, Inc. in Connection with the Sale of the Company to Glendon Group, Inc.

PR Newswire

NEW YORK, May 25, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of BIDZ.com, Inc. ("BIDZ" or the "Company") (Nasdaq: BIDZ) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Glendon Group, Inc. 

(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO )

To get more information go to the http://zlk.9nl.com/bidzcom-bidz, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, BIDZ shareholders will receive $0.49 per share of BIDZ stock they own.  Shareholders who collectively own approximately 36.6% of the Company's outstanding shares have already agreed to tender their shares. The investigation concerns whether the BIDZ Board of Directors breached their fiduciary duties to BIDZ stockholders by failing to adequately shop the Company before entering into this transaction and whether Glendon Group, Inc. is underpaying for BIDZ shares, thus unlawfully harming BIDZ stockholders.  In particular, BIDZ shares traded as high as $0.73 per share as recently as February 27, 2012, and at least one analyst set a price target of $1.25 per share for the most recent quarter.

If you own common stock in BIDZ and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/bidzcom-bidz.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C.  The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits.  The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors.  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 - 24th Floor
New York, NY 10004           
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky, LLP

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