NEW YORK, Dec. 21, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Amplify Snack Brands Inc. ("BETR" or the "Company") (NYSE: BETR) in connection with the proposed acquisition of the Company by The Hershey Company ("HSY") (NYSE: HSY). Under the terms of the acquisition agreement, the Company's shareholders will receive $12.00 for each BETR share they own.
WeissLaw is investigating whether BETR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results for the third quarter of 2017. BETR reported net sales of $94.9 million and gross profit of $35.9 million, which represents annual growth of 39.5% and 37.9% respectively.
Additionally, the acquisition is a strategic transaction from which HSY will greatly benefit. According to the acquisition announcement, this deal is expected to be accretive to HSY's financial targets. HSY is hoping to capitalize on BETR's strong performance in the fast-growing better-for-you product category, strengthen its position in the snacking aisle and broaden its portfolio.
Given these facts, WeissLaw is investigating whether BETR's Board acted in the best interests of BETR's public shareholders to maximize shareholder value prior to entering into the agreement. If you own BETR 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/amplify-brands-inc/
SOURCE WeissLaw LLP