Vitacost.com Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor LLP Investigate the Acquisition by Kroger
03 7월 2014 - 12:32AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of Vitacost.com, Inc. (“Vitacost”) (NasdaqGS: VITC)
concerning the acquisition by The Kroger Co. (“Kroger”). Under the
terms of the agreement, valued at approximately $280 million,
Vitacost shareholders will only receive $8 in cash per Vitacost
share owned. The consideration is well below the 52-week high of
$9.40 and at least one analyst’s estimated value of $10 per
share.
If you are an affected investor, and you want to learn more
about the investigation or if you have information that you believe
would be helpful to the determination of the fairness of the
proposed transaction, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor
LLP, toll free (877) 728-9607, via e-mail at
shareholder@powerstaylor.com. There is no cost or fee to you.
The investigation centers on whether Vitacost’s Board of
Directors is acting in the shareholders’ best interests, whether
the board is properly negotiating a higher share price for the
shareholders, and whether the board has employed an adequate
process to review and act on the proposed transaction. Notably, at
least one analyst with Yahoo! Finance estimates the true inherent
value of Vitacost to be as high as $10 per share.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
214-239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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