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Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Winn-Dixie Stores, Inc. (“Winn-Dixie” or the “Company”) (Nasdaq: WINN) relating to the proposed acquisition by BI-LO, LLC (“BI-LO”).
Under the terms of the transaction, Winn-Dixie shareholders would receive $9.50 in cash for each share of Winn-Dixie stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Winn-Dixie for not acting in the Company’s shareholders' best interests in connection with the sale process to BI-LO. The transaction may undervalue Winn-Dixie as Winn-Dixie stock traded at $13.62 on April 15, 2011 and traded at $9.81 as recently as July 20, 2011. In addition, an analyst has set a price target of $11.00 per share for Winn-Dixie stock.
If you own shares of Winn-Dixie stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at
http://brodsky-smith.com/372-winn-winn-dixie-stores-inc.html, or by calling toll free 877-LEGAL-90.