From the Wires
Ralcorp Holdings, Inc. (RAH) Investor Lawsuit to Stop Buyout by ConAgra Foods, Inc. Announced by Shareholders Foundation
By: Marketwired .
Dec. 10, 2012 09:35 AM
SAN DIEGO, CA -- (Marketwire) -- 12/10/12 -- The Shareholders Foundation, Inc. announces that an investor in Ralcorp Holdings, Inc. (RAH) shares filed a lawsuit to stop the proposed takeover of Ralcorp Holdings, Inc. by ConAgra Foods, Inc. at $90.00 per RAH share.
Investors who purchased shares of Ralcorp Holdings, Inc. (RAH) prior to November 27, 2012 and currently hold any of those RAH shares, have certain options and should contact the Shareholders Foundation, Inc. at firstname.lastname@example.org or call +1 (858) 779-1554.
On Nov. 27, 2012, ConAgra Foods, Inc. and Ralcorp Holdings, Inc. announced that the boards of directors of both companies have approved an agreement under which ConAgra Foods will acquire Ralcorp. Under the terms of the agreement, Ralcorp shareholders will receive $90.00 per share in cash for each outstanding share of common stock held.
The plaintiff alleges that the defendants breached their fiduciary duties owed RAH stockholders by agreeing to sell the company too cheaply via an unfair process to ConAgra Foods, Inc.
More specifically, the plaintiff claims that the $90 offer is unfair to RAH stockholders and undervalues the company. Indeed in September 2011 ConAgra Foods offered to buy Ralcorp. Holdings, Inc. at $94 per share but the board of directors of Ralcorp Holdings rejected the $94 offer in September 2011.
Back in September 2011 a news outlet published a story entitled "Ralcorp Board Costing Investors $1 Billion in ConAgra Opposition."
Those who currently are investors in Ralcorp Holdings, Inc. (RAH) shares and purchased their shares before the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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