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 email@example.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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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