Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of drugstore.com, inc., in Connection With t...
March 24 2011 - 7:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
drugstore.com, inc. (“drugstore.com” or the “Company”)
(NASDAQ:DSCM) related to the Company’s agreement to be acquired by
Walgreen Co. The proposed all-cash transaction is valued at
approximately $409 million.
Under the terms of the definitive merger agreement entered into
by the parties, drugstore.com stockholders will receive $3.80 in
cash for each share they own of the Company’s stock. The proposed
transaction was unanimously approved by drugstore.com’s board of
directors. The merger is expected to be completed by the end of
June 2011. The investigation concerns possible breaches of
fiduciary duty and other violations of law related to approval of
the proposed transaction by drugstore.com’s board of directors.
If you are a shareholder of drugstore.com, 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 Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at
888-638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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