Levi & Korsinsky, a New York firm focused on securities litigation, said the case in the New York Supreme Court challenges the fairness of the deal, which will see Peter Georgiopoulos-led Genco combine with the smaller company that it spun off in 2010.
The firm’s website says it has been investigating whether the Baltic Trading board breached fiduciary duties by “failing to shop the company” before the deal, and whether Genco is paying too little for the merger.
However,
