The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Del Mo...
November 26 2010 - 9:28AM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Del Monte Foods Co. (NYSE:DLM) for possible breaches
of fiduciary duty and other violations of state law in connection
with their attempt to sell the Company to Kohlberg Kravis Roberts,
Vestar Capital Partners and Centerview Partners. Under the terms of
the transaction, Del Monte shareholders will receive $19.00 per
share in cash for each share they own for a total transaction value
of approximately $4 billion.
The investigation concerns whether the Del Monte Board of
Directors breached their fiduciary duties to Del Monte stockholders
by failing to adequately shop the Company before entering into this
transaction and whether the buyers are underpaying for Del Monte
shares. At least one analyst set a price target for Del Monte
common stock at $22 per share.
If you own common stock in Del Monte and wish to obtain
additional information, please contact Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit http://www.ashainberglaw.com/contact.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide.
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