WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Office Depot, Inc. (NASDAQ GS: ODP)?
- Did you purchase any of your shares prior to February 4, 2015?
- Do you think the proposed buyout value is too low?
- 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 Office Depot, Inc. (“Office Depot” or the “Company”) (NASDAQ GS: ODP) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Staples, Inc. (“Staples”) (NASDAQ GS: SPLS), in a transaction valued at approximately $6.3 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/office-depot-inc-odp.
Under the terms of the agreement, shareholders of Office Depot will receive $7.25 in cash and 0.2188 of a Staples common share for each share of Office Depot common stock. Based on Staples’ closing stock price on February 3, 2015, Office Depot shareholders would have received consideration valued at approximately $11.41 per share.
The investigation concerns whether Office Depot’s board of directors failed to adequately shop the Company and obtain the best possible value for Office Depot’s shareholders before entering into an agreement with Staples.
If you own the common stock of Office Depot and purchased your shares before February 4, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/office-depot-inc-odp.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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