NEW YORK, Dec. 2, 2015 /PRNewswire/ -- The proposed acquisition of Boulder Brands, Inc. ("BDBD" or the "Company") by Pinnacle Foods Inc. ("PF") is being investigated by WeissLaw LLP for possible breaches of fiduciary duty and other violations of law by the Board of Directors of BDBD. On November 24, 2015, the Company announced it had reached a definitive agreement for PF to acquire all outstanding shares of BDBD in a transaction valued at approximately $975 million inclusive of debt. Under the terms of the agreement, BDBD shareholders will receive $11.00 in cash for each BDBD share they own.
WeissLaw is investigating whether BDBD's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the merger price represents a premium of a mere 9% over BDBD's closing price the day before the announcement. Additionally, BDBD stock traded above the merger price as recently as February 25, 2015 and at least one analyst recently set a target price of $13.00 per BDBD share.
Given these facts, WeissLaw is investigating whether BDBD's Board acted in the best interests of BDBD's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with PF. If you own BDBD shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP