BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Office Depot, Inc. ("Office Depot” or "the Company") (Nasdaq: ODP) for possible breaches of fiduciary duty and other violations of state law in connection with the merger of the Company with Staples, Inc. (“Staples”).
Click here to learn more about the investigation http://brodsky-smith.com/887-odp-office-depot-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Office Depot shareholders will receive only $7.25 in cash and 0.2188 shares of Staples common stock for each share of Office Depot stock they own. The investigation concerns whether the Board of Office Depot breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Staples is underpaying for Office Depot.
The transaction may undervalue Office Depot as on November 4, 2014, Office Depot released earnings results for its third quarter of 2014. In commenting on these results, Office Depot’s Chairman and CEO indicated that the Company had doubled its adjusted operating income from last year’s combined pro forma results. Office Depot also indicated that preliminary estimates for 2015 adjusted income was approximately $475 million, which is an 80% increase from the 2014 outlook.
If you own shares of Office Depot stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/887-odp-office-depot-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.