NEW YORK, Aug. 26, 2016 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Colorado, case no. 1:16-cv-02010, on behalf of shareholders of WhiteWave Foods Company ("WhiteWave" or the "Company") (NYSE:WWAV) who held WhiteWave securities on the record date, July 29, 2016, and have been harmed by WhiteWave's and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the proposed sale (the "Proposed Transaction") of the Company to French company Danone S.A. ("Danone").
On July 6, 2016, WhiteWave and Danone jointly announced that they had reached a definitive Agreement and Plan of Merger ("Merger Agreement") whereby WhiteWave will merge with and into Merger Sub (the "Merger"), with WhiteWave surviving as a wholly-owned subsidiary of Danone. The shareholder vote on the Proposed Transaction is expected to occur on October 4, 2016.
If you wish to obtain information concerning this action or view a copy of the complaint, you can do so by clicking here: www.faruqilaw.com/WWAVnotice.
Pursuant to the terms of the Merger, which was unanimously approved by the Board, each issued and outstanding share of WhiteWave common stock will be cancelled and automatically converted into the right to receive $56.25 in cash. The complaint claims that this offer is inadequate in light of the Company's financial performance and strong growth prospects in recent quarters.
The complaint alleges that the Schedule 14A Proxy Statement (the "Proxy") filed with the Securities and Exchange Commission ("SEC") on July 29, 2016 provides materially incomplete and misleading information about the Company and the Proposed Transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act. The Proxy fails to provide WhiteWave's shareholders with material information concerning the financial and procedural fairness of the Proposed Transaction.
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
SOURCE Faruqi & Faruqi, LLP