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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of TOMO

03-08-2011 12:30 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Levi & Korsinsky, LLP

Levi & Korsinsky is investigating the Board of Directors of TomoTherapy Incorporated (“TomoTherapy” or the “Company”) (Nasdaq: TOMO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Accuray Incorporated (Nasdaq: ARAY).

New York, NY, March 08, 2011 -- Levi & Korsinsky is investigating the Board of Directors of TomoTherapy Incorporated (“TomoTherapy” or the “Company”) (Nasdaq: TOMO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Accuray Incorporated (“Accuray”) (Nasdaq: ARAY). Under the terms of the agreement, TomoTherapy stockholders will receive $3.15 in cash and 0.1648 shares of Accuray stock for every share of TomoTherapy common stock they own, representing a value of $4.80 per share. The transaction has a total value of approximately $277 million.

Click here to learn more about the investigation: http://www.zlk.com/tomotherapy-tomo.html, or call: 877-363-5972.

The investigation concerns whether the TomoTherapy Board of Directors breached their fiduciary duties to TomoTherapy stockholders by failing to adequately shop the Company before entering into this transaction and whether Accuray is underpaying for TomoTherapy shares, thus unlawfully harming TomoTherapy stockholders. In particular, at least one analyst set a price target of $5.00 per share for TomoTherapy stock.

If you own common stock in TomoTherapy 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 visit http://www.zlk.com/tomotherapy-tomo.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. 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 litigations involving mergers and acquisitions. 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 - 15th Floor, ew York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation,

Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St., 15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com

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