WILMINGTON, Del.--(BUSINESS WIRE)--Insert in first paragraph, end of second sentence: ...for every 10 shares of Rite Aid common stock.
The corrected release reads:
RITE AID CORPORATION SHAREHOLDER ALERT: RIGRODSKY & LONG, P.A. ANNOUNCES INVESTIGATION OF BUYOUT
Rigrodsky & Long, P.A.:
- Do you own shares of Rite Aid Corporation (NYSE: RAD)?
- Did you purchase any of your shares prior to February 20, 2018?
- Do you think the proposed buyout is fair?
- 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 Rite Aid Corporation (“Rite Aid” or the “Company”) (NYSE: RAD) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Albertsons Companies (“Albertsons”). Under the terms of the agreement, shareholders of Rite Aid will have the right to elect to receive either (i) one share of Albertsons common stock plus approximately $1.83 in cash or (ii) 1.079 shares of Albertsons stock for every 10 shares of Rite Aid common stock. Depending upon the results of cash elections, upon closing of the merger, shareholders of Rite Aid will own a 28.0 percent to 29.6 percent stake in the combined company, and current Albertsons shareholders will own a 70.4 percent to 72.0 percent stake in the combined company on a fully diluted basis.
If you own common stock of Rite Aid and purchased any shares before February 20, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail at info@rl-legal.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
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