VITACOST ALERT: Proposed Sale of Vitacost.com, Inc. Being Investigated by Johnson & Weaver, LLP
SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Vitacost.com, Inc. (NASDAQ: VITC), breached their fiduciary duties in connection with the proposed $280 million sale of the company to The Kroger Co.
Vitacost operates as an online retailer of health and wellness products primarily in North America.
On July 2, 2014, Vitacost and Kroger entered into an agreement whereby Kroger will acquire Vitacost. Under the terms of the agreement, Kroger will purchase all outstanding shares of Vitacost.com for $8.00 per share in cash, or approximately $280 million.
Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed $8.00 per share deal price represents adequate consideration. Vitacost stock traded at $9.40 in 2013. Additionally, one Wall Street analyst has a $10.00 per share price target.
If you are a shareholder of Vitacost and believe (1) the proposed buyout price is too low and (2) you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
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.