NEW YORK, March 7, 2008 (PRIME NEWSWIRE) -- Levi & Korsinsky, LLP today announced that it has commenced an investigation into the proposed acquisition of ChoicePoint, Inc. ("ChoicePoint" or the "Company") (NYSE:CPS).
On February 21, 2008, ChoicePoint announced that it had agreed to a takeover proposal from Reed Elsevier Group plc and Deuce Acquisition, Inc. to acquire all of the Company's outstanding stock. The proposal calls for ChoicePoint's shareholders to be cashed out at $50.00 per share.
On February 29, 2008 the Company filed with the Securities Exchange Commission a Preliminary Proxy Statement on Form 14A, describing among other things, the events leading up to the proposed acquisition and the reasons for the Company accepting this takeover proposal. However, the Preliminary Proxy Statement appears to be deficient in several respects and fails to provide all the material information necessary for ChoicePoint's shareholders to properly evaluate the offer.
As of a result of this and other information, Levi & Korsinsky, LLP has commenced an investigation into the fairness of this transaction to shareholders. If you purchased ChoicePoint's stock prior to February 21, 2008 and still hold those shares, you may have legal rights to demand certain additional information about the proposed transaction and/or to challenge some or all aspects of it.
If you purchased ChoicePoint's stock before February 21, 2008 and still hold the shares and would like further information concerning your legal rights, please contact Eduard Korsinsky, Esq. or Juan E. Monteverde, Esq. of Levi & Korsinsky, LLP at 212-363-7500 or via e-mail at ek@zlk.com or jmonteverde@zlk.com.
Levi & Korsinsky, LLP has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. Levi & Korsinsky, LLP represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
About ChoicePoint
ChoicePoint provides businesses, government agencies and non-profit organizations with technology, software, information and marketing services to help manage economic and physical risks as well as identify business opportunities.
About Reed Elsevier
Reed Elsevier Group plc is a world leading publisher and information provider. It is owned equally by its two parent companies, Reed Elsevier PLC and Reed Elsevier NV.