SAN DIEGO, CA / ACCESSWIRE / September 4, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Fred’s, Inc. (NASDAQ: FRED).
Investors, who purchased shares of Fred’s, Inc. (NASDAQ: FRED), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On October 27, 2015, Rite Aid Corp and Walgreens jointly announced an agreement and plan of merger pursuant to which Walgreens would acquire Rite Aid for $9.00 per share in cash. To convince the investing public that it would receive FTC approval to complete the merger, Walgreens and Rite Aid had entered into an agreement with Fred's to sell 865 Rite Aid Corp stores for $950 million in an all-cash transaction in order to complete the Original Merger (the "Fred's Asset Purchase Agreement"). On January 30, 2017, Rite Aid Corp and Walgreens announced that they had entered into a new merger agreement (the "Revised Merger"). On June 29, 2017, Rite Aid Corp and Walgreens Boots Alliance, Inc announced that they had terminated the Revised Merger. Following the termination of the Revised Merger, Walgreens Boots Alliance, Inc terminated the Fred's Asset Purchase Agreement.
The plaintiff claims that between the Defendants made false and/or misleading statements downplaying or disputing contrary reports from journalists signaling regulatory turbulence in closing the Original Merger, as well as, the Revised Merger, and representing that inside knowledge of the FTC gave confidence that the deal would close.
Those who purchased Fred’s, Inc. (NASDAQ: FRED) shares 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.