A lawsuit was filed for investors in shares of SUPERVALU INC. (NYSE: SVU) in connection with the proposed takeover and NYSE: SVU stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/11/2018 -- The Shareholders Foundation announces that an investor, who currently hold shares of SUPERVALU INC. (NYSE: SVU), filed a lawsuit against the takeover of SUPERVALU INC. by United Natural Foods, Inc.
Investors who purchased shares of SUPERVALU INC. (NYSE: SVU) and currently hold any of those NYSE: SVU shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: SVU stockholders by agreeing to sell SUPERVALU INC. cheaply via an unfair process.
Eden Prairie, MN based SUPERVALU INC., together with its subsidiaries, operates as a grocery wholesaler and retailer in the United States and internationally. SUPERVALU INC. reported that its annual Total Revenue rose from over $10.91 billion for the 12 months period that ended on February 25, 2017 to over $14.15 billion for the 12 months period that ended on February 24, 2018.
On July 26, 2018, United Natural Foods, Inc. (NASDAQ: UNFI) and SUPERVALU INC. (NYSE: SVU) announced that they have entered into an agreement under which UNFI will acquire SUPERVALU for $32.50 per share in cash, or approximately $2.9 billion, including the assumption of outstanding debt and liabilities.
However, plaintiff claims that the proposed consideration NYSE: SVU shareholders will receive is grossly inadequate and undervalues SUPERVALU INC. indeed, at least one analyst has set the high target price for NYSE:SVU shares at $55.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE: SVU stockholders.
Those who are current investors in SUPERVALU INC. (NYSE: SVU) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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