BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Rite Aid Corporation("Rite Aid” or "the Company") (NYSE: RAD) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Walgreens Boots Alliance, Inc. (“Walgreens”).
Click here to learn more about the investigation http://brodsky-smith.com/995-rad-rite-aid-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction Rite Aid shareholders will receive only $9.00 in cash for each share of Rite Aid stock they own. The investigation concerns whether the Board of Rite Aid breached their fiduciary duties to shareholders and whether Walgreens is underpaying for Rite Aid. The transaction may undervalue Rite Aid and will result in no real gain for many Rite Aid shareholders. For example, Rite Aid stock traded at $9.32 per share as recently as August 5, 2015 and an analyst has placed a $10.00 per share price target on Rite Aid stock.
If you own shares of Rite Aid 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/995-rad-rite-aid-corporation.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.