Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Clorox Co. (NYSE: CLX) concerning possible breaches of fiduciary duty and other violations of law related to activist investor Carl Icahn’s offer to take the Company private in a transaction valued at approximately $10.2 billion.
Icahn has proposed buyout terms where CLX shareholders will receive $76.50 per share or an 11.8% premium over the trading price of CLX prior to Icahn’s public announcement. Icahn, who holds a 9.4% interest in CLX since December 2010, seeks to obtain CLX at a price far lower than the company’s estimated worth as calculated by analysts. Despite Icahn inviting the CLX board of directors to consider other offers, the board may choose to accept Icahn’s offer. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company is undertaking a fair process to obtain fair consideration for all shareholders of CLX.
If you own shares of CLX and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Matthew Houston toll free at (877) 935-7400 or to sign up online, visit www.hfesq.com. You may also email Mr. Houston at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.hfesq.com.
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