Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether Snyder's-Lance, Inc. has obtained a Fair Price in its Sale to Campbell Soup Company
18 Dec, 2017, 07:58 ET
MILWAUKEE, Dec. 18, 2017 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating the Board of Directors of Snyder's-Lance, Inc. (Nasdaq: LNCE) for possible breaches of fiduciary duty and other violations of California law in connection with the sale of LNCE to Campbell.
Click here to learn how to join the action: http://ademilaw.com/case/snyders or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges LNCE's long-term financial outlook is improving and yet LNCE shareholders will receive $50 for each LNCE share. Campbell is well aware of LNCE's improving financial metrics and is purchasing LNCE at a substantial discount. The merger agreement unreasonably limits competing bids for LNCE by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should LNCE receive and accept a superior bid. LNCE insiders, their affiliates and other major shareholders own significant voting stock, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of LNCE. Our investigation centers on the conduct of LNCE's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LNCE given its current financial condition and prospects.
If you own common stock in LNCE and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or http://ademilaw.com/case/snyders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Ademi & O'Reilly, LLP
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SOURCE Ademi & O'Reilly, LLP
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