Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Imperial Sugar Co. (“Imperial Sugar” or the “Company”) (NASDAQ: IPSU) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Louis Dreyfus Commodities LLC in an all-cash deal valued at about $78 million. Under the terms of the proposed transaction, Imperial Sugar stockholders will receive $6.35 in cash for each share of Imperial Sugar common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $20.00 for Imperial Sugar. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote. Request more information now by clicking here: www.faruqilaw.com/IPSU. There is no cost or obligation to you. Whether Imperial Sugar’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Imperial Sugar’s shares and by how much this proposed transaction undervalues the Company to the detriment of Imperial Sugar’s shareholders are the key focus of this investigation. Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. If you own common stock in Imperial Sugar and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/IPSU or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
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.