Pomerantz Law Firm Investigates Claims on Behalf of Investors of Imperial Sugar Company
May 01 2012 - 12:48PM
Business Wire
Pomerantz Haudek Grossman & Gross LLP is investigating
claims on behalf of investors of Imperial Sugar Company (“Imperial
Sugar” or the “Company”) (NASDAQ: IPSU) (ISIN: US4530962087)
concerning the proposed acquisition of Imperial Sugar by Louis
Dreyfus Commodities LLC in a cash transaction valued at
approximately $203 million.
The investigation concerns whether the Imperial Sugar directors
are breaching their fiduciary duties by failing to adequately shop
the Company and maximize shareholder value. Under the terms of the
agreement, Imperial Sugar shareholders would receive $6.35 in cash
per share of Imperial Sugar common stock. However, Imperial Sugar
stock has traded as high as $20.00 in the last year. Additionally,
the price to revenue multiple is below that of comparable
transactions.
Imperial Sugar shareholders seeking more information about this
acquisition are advised to contact Rebecca Jarmon at
rjarmon@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York and Chicago, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the dean of the class action bar,
the Pomerantz Firm pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of defrauded
investors. See www.pomerantzlaw.com.
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