DALLAS, Dec. 19, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of the remaining shares of Winn-Dixie Stores, Inc. ("Winn-Dixie" or "WINN") (Nasdaq: WINN) to Bi-Lo for WINN shareholders. Under the proposed acquisition, WINN's shareholders will receive only $9.50 in cash for each share of Winn-Dixie/WINN stock owned, which is significantly less than the $11 per share target price of at least one analyst following the company.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.Under the terms of the definitive acquisition agreement, this transaction has an approximate value of $560 million. The investigation centers on whether WINN shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues WINN's stock, and whether WINN's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Among other things, Winn-Dixie stock traded as high as $9.81 on July 20, 2011. The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.