Pinnacle Foods Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Acquisition by the Hillshire Brands Company
May 13, 2014
Bernstein Liebhard LLP is investigating whether the Board of Directors of Pinnacle Foods Inc. (“Pinnacle Foods” or the “Company”) (NYSE: PF) breached its fiduciary duty to its shareholders in agreeing to sell Pinnacle Foods to The Hillshire Brands Company (“Hillshire”).
Under the terms of the agreement, Pinnacle Foods shareholders will receive $18.00 along with Hillshire common stock at a fixed exchange ratio of 0.50 Hillshire shares in cash for each share they own. The investigation is focused on the potential unfairness of the price to Pinnacle Foods shareholders and the process by which the Pinnacle Foods Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP 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 twelve years.