Energy News / Shareholders Foundation, Inc.

NYSE:BETR Shareholder Notice: Lawsuit Filed in Effort to Halt the Takeover of Amplify Snack Brands

Via: ReleaseWire

Updated 12:22 PM CST, Thu, January 11,2018

A lawsuit was filed for investors in shares of Amplify Snack Brands Inc (NYSE:BETR) in connection with the proposed takeover and NYSE:BETR stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 01/11/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Amplify Snack Brands Inc (NYSE:BETR), filed a lawsuit against the acquisition of Amplify Snack Brands Inc. by the Hershey Company for $12.00 per share.

Investors who purchased shares of Amplify Snack Brands Inc (NYSE:BETR) and currently hold any of those NYSE:BETR 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 NYSE:BETR stockholders by agreeing to sell Amplify Snack Brands Inc nc cheaply via an unfair process to the Hershey Company.

On December 18, 2017, the Hershey Company (NYSE:HSY) and Amplify Snack Brands, Inc. (NYSE:BETR) announced that they have entered into an agreement under which Hershey will acquire all outstanding shares of Amplify for $12.00 per share in cash.

However, plaintiff claims that the proposed consideration NYSE:BETR shareholders will receive is grossly inadequate and undervalues Amplify Snack Brands. Amplify Snack Brands Inc reported that its annual Total Revenue rose from $183.91 million in 2015 to $270.81 million in 2016 and that its respective Net Income increased from $9.88 million in 2015 to $27.29 million in 2016. Shares of Amplify Snack Brands Inc (NYSE:BETR) reached in 2016 as high as $16.95 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:BETR stockholders

Those who are current investors in Amplify Snack Brands Inc (NYSE:BETR) 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/nysebetr-shareholder-notice-lawsuit-filed-in-effort-to-halt-the-takeover-of-amplify-snack-brands-914495.htm

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