NEW YORK, July 2, 2014 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Vitacost.com,
Inc. ("Vitacost.com" or the "Company") (NASDAQ: VITC) (ISIN:
US92847A2006) (CUSIP: 92847A200) concerning the proposed
acquisition of Vitacost.com by The Kroger Company ("Kroger").
Vitacost.com shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 237.
The investigation concerns whether the Vitacost.com directors
are breaching their fiduciary duties by failing to adequately shop
the Company and maximize shareholder value. Under the
terms of the agreement, Kroger will purchase all outstanding shares
of Vitacost.com for $8.00 per share
in cash, or approximately $280
million. However, the Price to Revenue is below
the averages of comparable transactions. In addition, at
least one analyst set a target price of $10.00 per share.
Pomerantz LLP, with offices in New
York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz LLP pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz LLP continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate
misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See
www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP