Rigrodsky & Long, P.A. Announces Investigation Of OfficeMax Incorporated Buyout
February 20 2013 - 10:53AM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of OfficeMax
Incorporated (NYSE: OMX)?
- Did you purchase any of your shares
prior to February 20, 2013?
- Do you think the proposed buyout
value is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of OfficeMax
Incorporated (“OfficeMax” or the “Company”) (NYSE: OMX) regarding
possible breaches of fiduciary duties and other violations of law
related to the Company’s entry into an agreement to be acquired by
Office Depot, Inc. (“Office Depot”) (NYSE: ODP) in a transaction
valued at approximately $1.1 billion.
Click here to learn more:
http://www.rigrodskylong.com/investigations/officemax-incorporated-omx.
Under the terms of the proposal, public shareholders of
OfficeMax will receive 2.69 Office Depot common shares for each
share of OfficeMax they own. Based on Office Depot’s closing stock
price of $5.02 on February 19, 2013, OfficeMax shareholders would
have received consideration valued at approximately $13.50 per
share.
The investigation concerns whether OfficeMax’s board of
directors failed to adequately shop the Company and obtain the best
possible value for OfficeMax’s shareholders before entering into an
agreement with Office Depot. According to Yahoo! Finance, at least
one analyst has set a price target for OfficeMax stock at
$17.00.
If you own the common stock of OfficeMax and purchased your
shares before February 20, 2013, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at
(888) 969-4242, by e-mail to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/officemax-incorporated-omx.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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