VITC Alert: Vitacost.com, Inc. Acquisition by The
Post# of 776
Posted On: 07/02/2014 3:56:43 PM
VITC Alert: Vitacost.com, Inc. Acquisition by The Kroger Company May Not be in the Best Interests of VITC Shareholders - 7/2/14
The fairness of the proposed acquisition of Vitacost.com, Inc. ("VITC" or the "Company"
by The Kroger Company ("KR" or "Kroger" is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of VITC for agreeing to sell the Company to KR. On July 2, 2014, the companies jointly announced they had reached a definitive agreement for Kroger to acquire all outstanding shares of the Company for $8.00 per common share, for an estimated value of $280 million.
WeissLaw LLP is investigating whether VITC's Board acted to maximize shareholder value prior to entering into the agreement with KR. Notably, prior to the announcement of the deal, multiple analysts set price targets for VITC stock significantly above the price offered by KR under the merger agreement, with a high price target of $10 - or $2 above the price offered by Kroger.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell VITC and whether the Board of Directors acted in the best interests of VITC's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with KR. If you own VITC shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also in the process of investigations on behalf of shareholders of Medical Action Industries Inc., PLX Technology Inc., Integrys Energy Group, Measurement Specialties Inc., and tw telecom Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
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CONTACT: WeissLaw LLP Joshua Rubin Kelly Keenan 1500 Broadway, 16th Floor New York, NY 10036 T: 212.682.3025 F: 212.682.3010 www.weisslawllp.com stockinfo@weisslawllp.com
http://media.globenewswire.com/cache/25296/small/19268.jpg
http://www.globenewswire.com/newsroom/ti?nf=M...TIjMjUyOTY
The fairness of the proposed acquisition of Vitacost.com, Inc. ("VITC" or the "Company"
by The Kroger Company ("KR" or "Kroger" is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of VITC for agreeing to sell the Company to KR. On July 2, 2014, the companies jointly announced they had reached a definitive agreement for Kroger to acquire all outstanding shares of the Company for $8.00 per common share, for an estimated value of $280 million. WeissLaw LLP is investigating whether VITC's Board acted to maximize shareholder value prior to entering into the agreement with KR. Notably, prior to the announcement of the deal, multiple analysts set price targets for VITC stock significantly above the price offered by KR under the merger agreement, with a high price target of $10 - or $2 above the price offered by Kroger.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell VITC and whether the Board of Directors acted in the best interests of VITC's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with KR. If you own VITC shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also in the process of investigations on behalf of shareholders of Medical Action Industries Inc., PLX Technology Inc., Integrys Energy Group, Measurement Specialties Inc., and tw telecom Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
View data
CONTACT: WeissLaw LLP Joshua Rubin Kelly Keenan 1500 Broadway, 16th Floor New York, NY 10036 T: 212.682.3025 F: 212.682.3010 www.weisslawllp.com stockinfo@weisslawllp.com
http://media.globenewswire.com/cache/25296/small/19268.jpg
http://www.globenewswire.com/newsroom/ti?nf=M...TIjMjUyOTY
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