The law firm of Weiss & Lurie announces that on October 13, 2009, it filed a class action lawsuit in the United States District Court for the Eastern District of Texas, on behalf of the public owners of the stock of Retalix, Ltd., (“Retalix” or the “Company”) (NASDAQ:RTLX), against certain officers and/or directors of Retalix, and other persons and entities who are parties to a proposed transaction through which the Company will enter into a Share Purchase Agreement with a group of Investors seeking to gain control of the Company.
The complaint asserts claims against defendants Retalix, Retalix USA Inc., Gillon Beck, Brian Cooper, Ishay Davidi, Neomi Enoch, Zvi Lieber, Amnon Lipkin-Shahak, Ian O’Reilly, Barry Shaked, Gur Shomron, and Itschak Shrem for violations of their fiduciary duties of loyalty, good faith, due care, and full and fair disclosure.
The complaint concerns the defendants'' agreement to a Private Placement of Retalix stock with a group of Investors (the "Investors") at $9.10 per share; authorizing the Investors to launch a Tender Offer to gain a controlling interest in the Company at $9.10 a share; and giving the Investors millions of dollars worth of warrants. The consideration to be paid by the Investors is grossly inadequate and does not fairly value Retalix stock. Indeed, defendants Shaked and Cooper have agreed to sell all of their Retalix shares to the Investors at $12.00 per share, $2.90 per share more than the Investors will pay Retalix in the Private Placement or Retalix shareholders in the Tender Offer.
Plaintiff is represented by the law firm of Weiss & Lurie which possesses significant experience and expertise in prosecuting class actions on behalf of shareholders in federal and state courts throughout the United States. Weiss & Lurie has been collectively responsible for recovering more than a billion dollars on behalf of class members.
If you wish to discuss this action, have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact:
Joseph H. Weiss, David C. Katz and/or Michael Rogovin, (888) 593-4771 or (212) 682-3025, via Internet electronic mail at infony@weisslurie.com or by writing Weiss & Lurie, The French Building, 551 Fifth Avenue, Suite 1600, New York, New York 10176.
Contacts:
Weiss & Lurie
Joseph H. Weiss / David C. Katz / Michael Rogovin
888-593-4771
or 212-682-3025
infony@weisslurie.com
