SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Vitacost.com, Inc. In Connection With The Proposed Sale Of The...
July 09 2014 - 11:15AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the board of directors of Vitacost.com, Inc. (“Vitacost” or
the “Company”) (NASDAQ: VITC) relating to the proposed buyout of
the Company by The Kroger Co. (“Kroger”).
On July 2, 2014, Kroger and Vitacost announced that they had
entered into a definitive merger agreement pursuant to which Kroger
will acquire Vitacost in a transaction valued at approximately $280
million.
Under the terms of the transaction, shareholders of Vitacost are
anticipated to receive $8.00 for each share of Vitacost stock they
own. According to Yahoo! Finance, at least one analyst has issued a
price target for Vitacost stock at $10.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s board of directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into this transaction, and whether Kroger is underpaying for
Vitacost shares.
If you currently own common stock of Vitacost and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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