NEW YORK, Aug. 18, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of Goldleaf Financial Solutions, Inc. ("Goldleaf" or the "Company") (Nasdaq:GFSI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Jack Henry & Associates, Inc. ("Jack Henry"). Under the terms of the agreement, MTS Medication shareholders will receive $0.98 in cash for each share of Goldleaf they own. In addition, Jack Henry will retire approximately $42 million of Goldleaf's outstanding debt.
The investigation concerns whether the Goldleaf Board of Directors breached their fiduciary duties to Goldleaf shareholders given that the Company's shares traded over $1.50 as recently as the fourth quarter of 2008 and at least one analyst set a price target for Goldleaf stock at $2.00 per share.
The companies expect to consummate the transaction by the end of the third quarter or early in the fourth quarter, subject to customary closing conditions, including all necessary regulatory and stockholder approvals.
If you own common stock in Goldleaf and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/gfsi1.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.