LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Fred’s, Inc. (“Fred’s” or the “Company”) (NASDAQ: FRED) investors concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
In December 2016, Fred’s agreed to purchase 865 stores from Rite Aid Corp. for $950 million to help obtain approval by the Federal Trade Commission of Rite Aid’s merger with Walgreens Boots Alliance, Inc. (“Walgreens”).
Then, on June 29, 2017, Rite Aid and Walgreens terminated their merger agreement along with Fred’s asset purchase agreement.
On this news, the Company’s share price fell $2.78, or more than 22%, to close at $9.41 on June 29, 2017, thereby injuring investors.
If you purchased Fred’s securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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