STEVENSON, Md., Dec. 15, 2015 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of investors who sold shares of Dole Food Company (“Dole” or the “Company”) (NYSE: DOLE ) securities during the period between January 2, 2013 and October 31, 2013, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until February 8, 2016 to seek appointment as lead plaintiff.
If you sold Dole securities during the class period and would like to obtain additional information about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.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. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company securities during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that information revealed by defendants concerning the Company’s 2013 earnings guidance, the cost of savings the Company could achieve through a transaction with ITOCHU of Japan, the true value of the Company’s real estate assets and the cancellation of the Company’s stock repurchase program in May 2013 was false and disclosed to artificially depress the value of Dole common stock.
According to the Complaint, following Company board chairman and CEO David H. Murdock’s initial proposal to take Dole private at a price of $12.00 per share, and the Company’s August 12, 2013 announcement that Dole and Murdock had entered into and signed a definitive merger agreement by which Murdock would acquire all of the outstanding shares of Dole common stock not currently beneficially held by him for $13.50 per share, the value of Dole shares increased.
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. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
