Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Imperial Sugar Company (“Imperial Sugar” or the “Company”) (NASDAQ: IPSU) (ISIN: US4530962087) concerning the proposed acquisition of Imperial Sugar by Louis Dreyfus Commodities LLC in a cash transaction valued at approximately $203 million. The investigation concerns whether the Imperial Sugar directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Imperial Sugar shareholders would receive $6.35 in cash per share of Imperial Sugar common stock. However, Imperial Sugar stock has traded as high as $20.00 in the last year. Additionally, the price to revenue multiple is below that of comparable transactions. Imperial Sugar shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 314. The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Shares of Imperial Sugar Company (Nasdaq:IPSU) were gapping down Thursday morning with an open price 14.9% lower than Wednesday's closing price. The stock closed at $4.35 yesterday and opened today's trading at $3.70.
Imperial Sugar Company (Nasdaq:IPSU) hit a new 52-week low Thursday as it is currently trading at $6.48, below its previous 52-week low of $6.50 with 168,141 shares traded as of 12:35 p.m. ET. Average volume has been 439,500 shares over the past 30 days.