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Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Monterey Gourmet Foods Inc. - PSTA

Posted on: Mon, 12 Oct 2009 14:58:00 EDT

Symbols: PSTA

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NEW YORK, Oct 12, 2009 (BUSINESS WIRE) --
PSTA | Quote | Chart | News | PowerRating -- Levi & Korsinsky is investigating the Board of Directors of Monterey
Gourmet Foods Inc. ("Monterey" or the "Company") (NasdaqGM: PSTA | Quote | Chart | News | PowerRating)
for possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to Pulmuone USA
Inc. ("Pulmuone"). Under the terms of the agreement, Monterey
shareholders will receive $2.70 in cash for each share of Monterey
common stock they own for a total transaction value of approximately
$45.8 million. The investigation concerns whether Pulmuone is
underpaying for the Company thereby harming Monterey shareholders.

If you own common stock in Monterey and wish to obtain additional
information, please contact us at the number listed below or visit http://www.zlk.com/psta1.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.

SOURCE: Levi & Korsinsky


Levi & Korsinsky, LLP 
Joseph Levi, Esq. 
Eduard Korsinsky, Esq. 
Tel: (212) 363-7500 
Fax: (212) 363-7171 
www.zlk.com

For full details on Monterey Gourmet Foods Inc (PSTA) PSTA. Monterey Gourmet Foods Inc (PSTA) has Short Term PowerRatings at TradingMarkets. Details on Monterey Gourmet Foods Inc (PSTA) Short Term PowerRatings is available at This Link.

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