SAN DIEGO, March 14, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of The Fresh Market, Inc. (NASDAQ: TFM) breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, LLC.
The Fresh Market operates as a specialty grocery retailer in the United States.
On March 14, 2016, The Fresh Market announced it had signed a definitive merger agreement with Apollo. Under the terms of the agreement, Apollo will acquire all of the outstanding shares of common stock of The Fresh Market for $28.50 per share in an all cash transaction.
The investigation concerns whether The Fresh Market's board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for The Fresh Market's shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $44.00 price target on the stock. The Fresh Market 52 week high was $42.07.
If you are a shareholder of The Fresh Market and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
SOURCE Johnson & Weaver, LLP