Levi & Korsinsky, LLP launches an investigation into the possible breaches of fiduciary duty

Levi & Korsinsky is investigating the Board of Directors of AirTran Holdings, Inc. ("AirTran" or the "Company") (NYSE: AAI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Southwest Airlines Co. ("Southwest") (NYSE: LUV). Under the terms of the transaction, shareholders of AirTran Holdings, Inc., will receive a combination of Southwest common stock and cash valued between $7.25 and $7.75, depending upon the average trading price of Southwest stock for a 20 trading day period to and including three trading days prior to the closing of the merger. At least $3.75 of the merger consideration will be in cash for a total transaction value of approximately $1.4 billion. The aggregate transaction value is approximately $3.42 billion. Click here to learn how to join the action: http://www.zlk.com/airtran-aai.html, or call: 877-363-5972.

The investigation concerns whether the AirTran Board of Directors breached their fiduciary duties to AirTran stockholders by failing to adequately shop the Company before entering into this transaction and whether Southwest is underpaying for AirTran shares, thus unlawfully harming AirTran stockholders. At least one analyst set a price target for AirTran stock at $11.00 per share.

If you own common stock in AirTran and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/airtran-aai.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. 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.