Levi & Korsinsky, LLP Announces Class Action Lawsuit Against SoftBrands, Inc. - SBN

NEW YORK, NY--(Marketwire - July 23, 2009) - Levi & Korsinsky announces that a class action lawsuit has been filed in Delaware Chancery Court challenging the proposed acquisition of SoftBrands, Inc. ("SoftBrands" or the "Company") (AMEX: SBN).

The Complaint arises out of the announcement by SoftBrands stating that it had entered into a definitive merger agreement with Golden Gate Capital. Under the proposed agreement, SoftBrands shareholders will receive $0.92 in cash for each share of SoftBrands they own for a total transaction value of approximately $41.3 million or $80 million including debt and preferred shares. The price appears unfair given that the 52-week high for SoftBrands share is $1.08 and at least one analysts set a price target of $1.00 for SoftBrands stock.

If you own common stock in SoftBrands and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/sbn1.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.