The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Del Monte Foods Company
November 29 2010 - 7:00AM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of Del Monte Foods
Company ("Del Monte" or the "Company") (NYSE: DLM) in connection
with their efforts to sell the Company to an investor group
comprised of Kohlberg Kravis Roberts & Co., Vestar Capital
Partners, and Centerview Partners. If the transaction is completed,
Del Monte shareholders will receive $19.00 in cash for each share
of Del Monte common stock they hold. The transaction is expected to
close in March 2011.
Robbins Umeda LLP's investigation concerns whether Del Monte's
Board undertook a fair process to obtain fair consideration for all
Del Monte shareholders. Specifically, our investigation concerns
whether members of the Company's Board breached their fiduciary
duties to Del Monte shareholders by failing to adequately shop the
Company before entering into the transaction with the investor
group.
If you are a shareholder of Del Monte, plan to continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights lawyers. Robbins
Umeda LLP has helped its clients realize more than $1 billion of
value for themselves and the companies in which they have invested.
For more information, please go to http://www.robbinsumeda.com.
Attorney Advertising. Past results do not guarantee a similar
outcome. We invite you to contact us today to discuss your
case.
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