SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Pinnacle Foods Inc. (NYSE: PF) breached their fiduciary duties in connection with the proposed sale of the Company to The Hillshire Brands Company.
Pinnacle Foods through its subsidiaries, manufactures, markets, and distributes branded convenience food products in North America.
On May 12, 2014, Pinnacle Foods and Hillshire Brands entered into an agreement whereby Hillshire Brands will acquire Pinnacle Foods. Under the terms of the agreement, each share of Pinnacle Foods common stock will be exchanged for $18.00 in cash and 0.50 shares of Hillshire Brands common stock.
The investigation concerns whether Pinnacle Foods board members failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.
If you are a Pinnacle Foods shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.