SAN DIEGO, Sept. 19, 2016 /PRNewswire/ -- Robbins
Geller Rudman & Dowd LLP ("Robbins Geller") today announced
that a class action has been commenced by an institutional investor
on behalf of holders of The WhiteWave Foods Company ("WhiteWave")
(NYSE:WWAV) common stock on August 25,
2016, in connection with the acquisition of WhiteWave by
Danone S.A. and certain of its subsidiaries (collectively,
"Danone"). This action was filed in the District of
Colorado and is captioned City
of Dearborn Heights Act 345 Police & Fire Retirement System v.
The WhiteWave Foods Company, et al., No. 16-cv-2355.
![Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history, including the largest securities class action judgment. Please visit http://www.rgrdlaw.com for more information. Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history, including the largest securities class action judgment. Please visit http://www.rgrdlaw.com for more information.](http://photos.prnewswire.com/prnvar/20150415/198876LOGO)
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. If you wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact plaintiff's counsel, Darren Robbins of
Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at
djr@rgrdlaw.com. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
The complaint charges WhiteWave, its Board of Directors and
Danone with breaches of fiduciary duty, aiding and abetting
breaches of fiduciary duty and/or violations of the Securities
Exchange Act of 1934 ("1934 Act") arising out of defendants'
efforts to complete the sale of WhiteWave to Danone pursuant to an
unfair process and for an unfair price (the "Proposed
Acquisition"). WhiteWave manufactures, markets and sells
branded plant-based foods and beverages, coffee creamers and
beverages, premium dairy products and organic produce.
On July 7, 2016, WhiteWave and
Danone announced they had entered into an Agreement and Plan of
Merger (the "Merger Agreement"), pursuant to which WhiteWave
stockholders will receive $56.25 in
cash for each share of WhiteWave stock they hold. The Merger
Agreement provides that a Danone subsidiary will merge with and
into WhiteWave, with WhiteWave continuing as the surviving
corporation and becoming a direct or indirect wholly-owned
subsidiary of Danone. On August 15,
2016, WhiteWave announced that the stockholder vote on the
Proposed Acquisition will be held on October
4, 2016.
The complaint alleges that in an attempt to secure shareholder
support for the Proposed Acquisition, on July 29, 2016, defendants issued a materially
false and misleading Preliminary Proxy Statement on Schedule 14A
(the "Proxy"). The Proxy, which recommends that WhiteWave
shareholders vote in favor of the Proposed Acquisition, omits
and/or misrepresents material information about the unfair sales
process for the Company, conflicts of interest that corrupted the
sales process, the unfair consideration offered in the Proposed
Acquisition and the actual intrinsic value of the Company on a
standalone basis and as a merger partner for Danone, in
contravention of §§14(a) and 20(a) of the 1934 Act and/or
defendants' fiduciary duty of disclosure under state law. The
omitted and/or misrepresented information is material to the
impending decision of WhiteWave shareholders on whether or not to
vote in favor of the Proposed Acquisition.
Plaintiff seeks injunctive relief on behalf of holders of
WhiteWave common stock on August 25,
2016. The plaintiff is represented by Robbins Geller, which
has extensive experience in prosecuting investor class actions
including actions involving financial fraud.
Robbins Geller is widely recognized as one of the leading law
firms advising U.S. and international institutional investors in
securities litigation and portfolio monitoring. With 200
lawyers in 10 offices, Robbins Geller has obtained many of the
largest securities class action recoveries in history and was
ranked first in both the total amount and number of shareholder
class action recoveries in ISS's SCAS Top 50 Report for the last
two years. Robbins Geller attorneys have shaped the law in
the areas of securities litigation and shareholder rights and have
recovered tens of billions of dollars on behalf of the Firm's
clients. Robbins Geller not only secures recoveries for
defrauded investors, it also strives to implement corporate
governance reforms, helping to improve the financial markets for
investors worldwide. Please visit http://www.rgrdlaw.com for
more information.
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SOURCE Robbins Geller Rudman & Dowd LLP