The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of General Bearing Corporation in Connection with the Sale of the Company to SKF

NEW YORK, Feb. 21, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of General Bearing Corporation ("GBC" or the "Company") (OTC: GNRL) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to SKF.  Under the terms of the transaction, GBC shareholders will receive $28.00 per GBC share they own.  The transaction has a total approximate value of $125 million.

Click here to learn more about the investigation: http://www.zlk.com/general-bearing-gnr, or call: 877-363-5972. There is no cost or obligation to you.

The investigation concerns whether the GBC Board of Directors breached their fiduciary duties to GBC stockholders by failing to adequately shop the Company before entering into this transaction and whether SKF is underpaying for GBC shares, thus unlawfully harming GBC stockholders.

If you own common stock in GBC and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://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, 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
New York, NY 10004           
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky

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