May 01, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of Imperial Sugar Company (“Imperial Sugar” or the “Company”) (NASDAQ: IPSU) breached its fiduciary duty to its shareholders in agreeing to sell Imperial Sugar to Louis Dreyfus Commodities LLC.
Under the terms of the agreement, Louis Dreyfus Commodities LLC will acquire Imperial Sugar through a cash tender offer and second step merger at $6.35 per share. The investigation is focused on the potential unfairness of the price to Imperial Sugar shareholders and the process by which the Imperial Sugar Board of Directors considered and approved the transaction.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.