Law Office of Brodsky & Smith, LLC Announces Investigation of Tasty Baking Co.
April 11 2011 - 10:30PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Tasty Baking Co. (“Tastykake” or the “Company”) (Nasdaq - TSTY)
relating to the proposed acquisition by Flower Foods (NYSE – FLO)
(“Flower”). The deal is worth approximately $165 million, including
assumed debt.
Under the terms of the transaction Tastykake shareholders would
receive $4.00 cash for each share Tastykake stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of
Tastykake by not acting in the Company’s shareholders' best
interests in connection with the sale process to Flower. The
transaction may undervalue Tastykake as the offer is significantly
lower than the 52 week high for the stock of $7.90. Additionally,
one analyst has set a price target of $14.00 for the Company.
If you own shares of Tastykake stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/275-tsty-tasty-baking-co.html or by
calling toll free 877-LEGAL-90.
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