Imperial Sugar Company Merger Litigation (NasdaqGS: IPSU)
Law Office of Brodsky & Smith, LLC Announces Investigation of Imperial Sugar Company
BALA CYNWYD, May 1, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Imperial Sugar Company (“Imperial Sugar” or the “Company”) (NasdaqGS- IPSU-News) relating to the proposed acquisition by a subsidiary of Louis Dreyfus Commodities LLC. (“Louis Dreyfus”).
Under the terms of the transaction, Imperial Sugar Company shareholders would receive only $6.35 in cash for each share of Imperial Sugar stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Imperial Sugar for not acting in the Company’s shareholders' best interests in connection with the sale process to Louis Dreyfus. The transaction may undervalue Imperial Sugar as Imperial Sugar stock traded at $24.49 on August 2, 2011 and traded at $7.03 as recently as February 13, 2012. In addition, an analyst has set a price target for Imperial Sugar stock at 20.00 per share.
If you own shares of Imperial Sugar 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 email@example.com, or by calling toll free 877-LEGAL-90.
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