Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Hewitt Associates, Inc. - HEW
Levi & Korsinsky Investigates Breach of Fiduciary Duty of Hewitt Associates in connection with their attempt to sell the company to Aon Corporation.
- New York, NY (1888PressRelease) July 14, 2010 - Levi & Korsinsky is investigating the Board of Directors of Hewitt Associates, Inc. ("Hewitt" or the "Company") (NYSE: HEW) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Aon Corporation ("Aon") (NYSE: AON). Under the terms of the transaction, Hewitt shareholders will receive $25.61 in cash and 0.6362 percent of a share of AON stock for each Hewitt share of common stock they own, for a total transaction value of approximately $4.9 billion. Hewitt's stockholders stand to receive approximately 50% of the proposed transaction value in cash and 50% in Aon stock. The transaction is expected to close by October 2010.
The investigation concerns whether the Hewitt Board of Directors breached their fiduciary duties to its stockholders by failing to adequately shop the Company before entering into this transaction and whether Aon is underpaying for Hewitt shares, thus unlawfully harming Hewitt's stockholders. For example, Hewitt has admitted that it was not shopped in any way, shape, or form. However, Russ Fradin, Hewitt's CEO will serve as Chairman and Chief Executive Officer of the combined Company.
If you own common stock in Hewitt and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi ( @ ) zlk dot com or by telephone at (212) 363-7500 or visit http://www dot zlk dot com/
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.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171