Nov. 29, 2012
/PRNewswire/ -- Shareholder rights attorneys at
Robbins Umeda LLP
are investigating possible breaches of fiduciary duty and other violations of the law by members of the board of directors of Ralcorp Holdings, Inc. (NYSE: RAH) in connection with their efforts to sell the company to ConAgra Foods, Inc. (NYSE: CAG).
November 27, 2012
, Ralcorp and ConAgra announced they had entered into a definitive merger agreement under which ConAgra will acquire Ralcorp through an all cash tender offer with a total value of
, including the assumption of debt. Ralcorp shareholders will receive
per share. The transaction is expected to close by
March 31, 2013
The Board of Directors' Actions May Prevent Ralcorp Shareholders from Receiving the Maximum Value for Their Stock
Robbins Umeda LLP's investigation focuses on whether the board of directors at Ralcorp is undertaking a fair process to obtain maximum value and adequately compensate its shareholders. On
November 27, 2012
, Ralcorp reported its fourth quarter and fiscal 2012 financial results reflecting an 8% increase in net sales for the quarter and 14% for the year. Moreover, adjusted earnings per share for fiscal for the fourth quarter was
compared to analyst estimates of
. Given these financials, the firm is examining the board of directors' decision to sell Ralcorp now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
Ralcorp shareholders have the option to file a
class action lawsuit
against the company to secure the best possible price for shareholders and the disclosure of material information so shareholders can vote on the transaction in an informed manner. Ralcorp shareholders interested in information about their rights and potential remedies can contact
Darnell R. Donahue
at (800) 350-6003,
, or via the
shareholder information form
on the firm's website.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than
of value for themselves and the companies in which they have invested. For more information, please go to
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