STEVENSON, Md., Aug. 4, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the Delaware Court of Chancery on behalf of all common stockholders of Family Dollar Stores Inc. ("Family Dollar" or the "Company") (NYSE: FDO ). The complaint asserts that the Company's Board of Directors breached their fiduciary duties in connection with the sale of the Company to Dollar Tree, Inc. ("Dollar Tree").
On July 28, 2014, Dollar Tree announced that it has entered into an agreement to acquire Family Dollar in a merger valued at approximately $8.5 billion. Under the terms of the transaction, Family Dollar shareholders will receive $59.60 in cash and the equivalent of $14.90 in Dollar Tree shares for each share of Family Dollar common stock they own for a total value consideration of $74.50 per share. Analysts have projected that the inherent value of the Company is worth at least $79 per share.
The claims asserted in the lawsuit concern whether the Board of Directors of Family Dollar breached their fiduciary duties to stockholders by failing to maximize shareholder value before agreeing to enter into an agreement with Dollar Tree, and whether Dollar Tree is underpaying for Family Dollar shares.
If you currently own common stock of Family Dollar and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616
