WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Pinnacle Foods Inc. (NYSE: PF)?
- Did you purchase any of your shares prior to May 12, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Pinnacle Foods Inc. (“Pinnacle” or the “Company”) (NYSE: PF) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by The Hillshire Brands Company (“Hillshire”) (NYSE: HSH), in a transaction valued at approximately $6.6 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/pinnacle-foods-inc-pf.
Under the terms of the agreement, public shareholders of Pinnacle would receive $18.00 in cash and 0.50 shares of Hillshire common stock for each share of Pinnacle they own. Based on Pinnacle’s closing stock price on May 9, 2014, Pinnacle shareholders would have received consideration valued at approximately $36.47 per share.
The investigation concerns whether Pinnacle’s board of directors failed to adequately shop the Company and obtain the best possible value for Pinnacle’s shareholders before entering into an agreement with Hillshire.
If you own the common stock of Pinnacle and purchased your shares before May 12, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/pinnacle-foods-inc-pf.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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