DALLAS, Dec. 19, 2011 /PRNewswire/ -- Former United
States Securities and Exchange Commission attorney Willie Briscoe
and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of the remaining shares of Winn-Dixie Stores, Inc. ("Winn-Dixie" or "WINN")
(Nasdaq: WINN) to Bi-Lo for WINN shareholders. Under the
proposed acquisition, WINN's shareholders will receive only
$9.50 in cash for each share of
Winn-Dixie/WINN stock owned, which is significantly less than the
$11 per share target price of at
least one analyst following the company.
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If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or
Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to
you.
Under the terms of the definitive acquisition agreement, this
transaction has an approximate value of $560
million.
The investigation centers on whether WINN shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues WINN's stock, and whether
WINN's board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. Among other things,
Winn-Dixie stock traded as high as $9.81 on July 20,
2011.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP