The Law Office Of Abe Shainberg Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Drugstore.com, Inc. In Connection With The Sale Of The Company To Walgreen Company – DSCM
The Law Office of Abe Shainberg is investigating the Board of Directors
The Law Office of Abe Shainberg is investigating the Board of Directors of drugstore.com, inc. (Nasdaq: DSCM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Walgreen Company (NYSE: WAG). Under the terms of the proposed transaction, drugstore.com shareholders will receive $3.80 in cash per share for a total value of approximately $409 million. The investigation concerns whether the drugstore.com Board of Directors breached their fiduciary duties to drugstore.com stockholders by failing to adequately shop the Company before entering into this transaction and whether Walgreen Company is underpaying for drugstore.com shares. On March 25, 2011, drugstore.com stock traded as high as $3.94 per share. If you own common stock in drugstore.com and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at email@example.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/drugstore-dot-com-dscm.html. Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Drugstore.com (Nasdaq:DSCM) is trading at unusually high volume Friday with 11.2 million shares changing hands. It is currently at 13.1 times its average daily volume and trading up eight cents (+2.2%).
Shares of Drugstore.com (Nasdaq:DSCM) were gapping up Thursday morning with an open price 112.3% higher than Wednesday's closing price. The stock closed at $1.79 yesterday and opened today's trading at $3.80.