SAN DIEGO, June 16, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Whole Foods Market, Inc. (NASDAQ: WFM) breached their fiduciary duties in connection with the proposed sale of the Company to Amazon.com, Inc.
On June 16, 2017, Whole Foods announced they have entered into a definitive merger agreement, in which Amazon will acquire Whole Foods. Under terms of the deal, Amazon will acquire Whole Foods for $42 per share in cash.
The investigation concerns whether the Whole Foods 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 Whole Foods shares of common stock. Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given that the price target for one Wall Street analyst is $47 per share.
If you are a shareholder of Whole Foods and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
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
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SOURCE Johnson & Weaver, LLP