NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. announces that it is investigating the Board of Directors of Penford Corporation (NASDAQ:PENX) for possible breaches of fiduciary duty and other violations of law by failing to adequately shop Penford to maximize shareholder value before agreeing to be acquired by Ingredion Incorporated (NYSE:INGR).
If you would like to join the action, go to http://rosenlegal.com/cases-400.html or contact Phillip Kim or Kevin Chan, toll-free at 866-767-3653, or via e-mail at email@example.com or firstname.lastname@example.org. There is no cost or obligation to you.
Under the terms of the proposed transaction, shareholders will receive $19.00 in cash for each share of Penford they own. The proposed transaction is valued at approximately $340 million. The investigation relates to whether the proposal for $19.00 in cash per share in cash is fair to public shareholders and whether Penford’s Board breached its fiduciary duties in connection with the proposed sale.
If you currently own shares of Penford and wish to obtain additional information, please visit the website at http://rosenlegal.com/cases-400.html. You may also contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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