NEW YORK, May 12, 2014 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential claims against the board of directors of Pinnacle Foods Inc. ("Pinnacle" or the "Company") (NYSE: PF) concerning possible breaches of fiduciary duty and other violations of law related to Pinnacle's efforts to sell the Company to The Hillshire Brands Company ("Hillshire Brands") in a transaction valued at approximately $6.6 billion including Pinnacle Foods' outstanding net debts.
Under the terms of the agreement, shareholders of Pinnacle can elect to receive $18.00 in cash and half a share of Hillshire Brands common stock, for each share of Pinnacle they own.
Our investigation concerns possible breaches of fiduciary duty and other violations of law by Pinnacle's Board of Directors for not acting in the best interest of Company's shareholders in connection with the sale process.
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