Law Firm Brower Piven Announces Investigation of Winn-Dixie Stores, Inc.
20 Dezembro 2011 - 4:21PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Winn-Dixie Stores, Inc. (“Winn-Dixie”)
(Nasdaq: WINN) and other violations of state law by the board of
directors of Winn-Dixie relating to the proposed acquisition of the
company by BI-LO, LLC (“BI-LO”). The firm’s investigation seeks to
determine, among other things, whether the board breached their
fiduciary duties by failing to maximize shareholder value.
On December 19, 2011, Winn-Dixie and BI-LO jointly announced
that they had entered into a definitive agreement pursuant to which
BI-LO will acquire all of the outstanding shares of Winn-Dixie for
$9.50 per share in cash. While the press release states that this
represents a premium of approximately 75% over the closing price of
Winn-Dixie common stock on December 16, 2011, according to Yahoo!
Finance, at least one analyst has set a high price target of $11.00
per share.
If you currently own shares of Winn-Dixie and would like to
learn more about the investigation being conducted by Brower Piven,
you may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925
Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and other
class action cases of over 60 years.
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