SAN DIEGO, CA / ACCESSWIRE / June 17, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held Pinnacle Foods Inc. (NYSE: PF) shares.
Investors, who held shares of Pinnacle Foods Inc. (NYSE: PF) and received Conagra Brands, Inc. (NYSE: CAG) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On June 27, 2018, Conagra Brands, Inc. (NYSE: CAG) and Pinnacle Foods Inc. (NYSE: PF) announced that their boards of directors have approved an agreement under which Conagra Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction valued at approximately $10.9 billion, including Pinnacle Foods' outstanding net debt. Under the terms of the transaction, Pinnacle Foods shareholders were to receive $43.11 per share in cash and 0.6494 shares of Conagra Brands common stock for each share of Pinnacle Foods held. The implied price of $68.00 per Pinnacle Foods share is based on the volume-weighted average price of Conagra Brands' stock for the five days ended June 21, 2018.
In August 2018, a lawsuit was filed in connection with the takeover of Pinnacle Foods Inc. by Conagra Brands, Inc. The plaintiff alleged that the proxy statement filed with the United States Securities and Exchange Commission ("SEC") in connection with the Proposed Transaction omitted certain material information with respect to the Proposed Transaction, which renders it false and misleading. On October 4, 2018, the case was voluntarily dismissed.
Those who held shares of Pinnacle Foods Inc. (NYSE: PF) and received Conagra Brands, Inc. (NYSE: CAG) shares as a result of the takeover should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.