Vitacost.com Shareholder Alert - Buyout Of Vitacost.com Inc. (NASDAQ: VITC) - National Securities Law Firm Seeks Higher Price For Shareholders
NEW YORK, July 2, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm announces that it is investigating the acquisition of Vitacost.com, Inc. (NASDAQ: VITC) on behalf of its shareholders. It was announced that The Kroger Co. and Vitacost.com entered into a definitive merger agreement under which Kroger will purchase all outstanding shares of Vitacost.com for $8.00 per share in cash, or approximately $280 million.
The investigation concerns whether the board of directors of Vitacost.com engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, and whether the price of $8 per share is unfairly low. Indeed, analysts have projected that the true going forward inherent value of the company is worth at least $10 per share. Further, the company has no long term debt and its stock price reached a high of $9.40 per share recently.
If you are a shareholder of Vitacost.com and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC
Toll Free: 1-800-511-7037
Tripp Levy PLLC, and its affiliate, Milberg LLP, have recovered billions of dollars for shareholders in securities actions across the nation. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC