STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Annie’s, Inc. (“Annie’s” or the “Company”) (NYSE: BNNY) relating to the proposed buyout of the Company by General Mills, Inc. (“General Mills”).
On September 8, 2014, General Mills announced that it has entered into a definitive agreement to acquire Annie’s in a transaction valued at approximately $820 million. The transaction is expected to close later in calendar 2014.
Under terms of the transaction, General Mills will acquire Annie's for $46.00 per share in cash. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether General Mills is underpaying for Annie’s shares.
If you currently own common stock of Annie’s and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.