Energy News / Shareholders Foundation, Inc.

Lawsuit for Investors in Whole Foods Market, Inc. (NASDAQ:WFM) Against Takeover by Amazon Filed

Via: ReleaseWire

Updated 11:15 AM CDT, Thu, August 10,2017

A lawsuit was filed for investors in shares of Whole Foods Market, Inc. (NASDAQ:WFM) in connection with the proposed takeover and NASDAQ:WFM stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/10/2017 -- The Shareholders Foundation announces that an investor, who currently holds shares of Whole Foods Market, Inc. (NASDAQ:WFM), filed a lawsuit in effort to halt the proposed takeover of Whole Foods Market, Inc. by Amazon for $42.00 per share.

Investors who purchased shares of Whole Foods Market, Inc. (NASDAQ:WFM) and currently hold any of those NASDAQ:WFM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:WFM stockholders by agreeing to sell Whole Foods Market, Inc.. cheaply via an unfair process to Amazon

On June 16, 2017, Amazon (NASDAQ:AMZN) and Whole Foods Market, Inc. (NASDAQ:WFM) announced that they have entered into a merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market's net debt.

However, plaintiff claims that the proposed consideration NASDAQ:WFM shareholders will receive with Amazon's offer is grossly inadequate and undervalues Whole Foods Market, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:WFM shares at $47.00 per share. Whole Foods Market, Inc. reported that its Total Revenue rose from over $15.38 billion for the 52 weeks period that ended on September 27, 2015 to over $15.72 billion for the 52 weeks period that ended on September 25, 2016. Shares of Whole Foods Market, Inc. (NASDAQ:WFM) reached in early 2015 as high as $56.71 per share.

Those who are current investors in Whole Foods Market, Inc. shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/lawsuit-for-investors-in-whole-foods-market-inc-nasdaqwfm-against-takeover-by-amazon-filed-846185.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com