This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Law Office Of Robbins Arroyo LLP Announces Class Action Lawsuit Against Safeway Inc.

SAN DIEGO and PLEASANTON, Calif., May 15, 2014 /PRNewswire/ --  Shareholder rights attorneys at Robbins Arroyo LLP announce that the firm filed a class action lawsuit on May 15, 2014, in the U.S. District Court, Northern District of California, Oakland Division (the "Court"), on behalf of the shareholders of Safeway Inc.  ("Safeway") (NYSE: SWY) against Safeway, its Board of Directors, Albertson's LLC ("Albertson's"), Saturn Acquisition Merger Sub, Inc. and Cerberus Capital Management L.P., for, among other things, violations of sections 14(a) and 20(a) of the U.S. Securities and Exchange Act of 1934 (the "Exchange Act") and U.S. Securities and Exchange Commission Rule 14a-9 promulgated thereunder.
Robbins Arroyo LLP.

The complaint arises out of a March 6, 2014 press release announcing that Safeway had entered into a definitive merger agreement with Albertson's, pursuant to which Safeway shareholders would receive, for each Safeway share they own, $32.50 in cash and the right to receive pro-rata distributions of net proceeds from primarily non-core assets, estimated to be worth $3.65 per share (the "Proposed Transaction").  The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated shareholders of Safeway as of March 6, 2014 (the "Class").  The named plaintiff is represented by Robbins Arroyo LLP.

The named plaintiff alleges that certain of the defendants, in connection with the Proposed Transaction, breached or aided and abetted the other defendants' breaches of their duties and obligations owed to Safeway shareholders.  The complaint further alleges that, in an attempt to secure shareholder approval of the Proposed Transaction, the defendants filed a materially false and misleading preliminary proxy statement on Schedule 14A with the U.S. Securities and Exchange Commission in violation of the Exchange Act and their duties of candor and full disclosure. The omitted and/or misrepresented information is believed to be material to Safeway shareholders' ability to make an informed decision whether to approve the Proposed Transaction.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs