Pinnacle Foods, Inc. Merger Litigation (NYSE: PF)
SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Pinnacle Foods, Inc. - PF
BALA CYNWYD, May 13, 2014 (Business Wire) –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Pinnacle Foods, Inc. (“Pinnacle Foods” or the “Company”) (NYSE –PF-News) relating to the proposed acquisition by The Hillshire Brands Company (“Hillshire Brands”).
Under the terms of the transaction, Pinnacle Foods shareholders will receive only $18.00 in cash and 0.5 of a share of Hillshire Brands common stock for each share of Pinnacle Foods stock they own The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pinnacle Foods for not acting in the Company’s shareholders' best interests in connection with the sale process. Further, the investigation seeks to determine if conflicts of interest played a role in the transaction given that Blackstone Group L.P., which controls approximately 51% of the Company’s stock, has agreed to vote in favor of the deal. Pinnacle Foods had previously been taken private by the Blackstone Group in 2007.
If you own shares of Pinnacle Foods common 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 firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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