Press release from PR Newswire
The Law Firm of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches of Fiduciary Duty by the Board of Ralcorp Holdings, Inc. in Connection with Rejection of Proposal from ConAgra Foods
Wednesday, September 21, 2011
NEW YORK, Sept. 21, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Ralcorp Holdings, Inc. ("Ralcorp" or the "Company") (NYSE: RAH) for possible breaches of fiduciary duty and other violations of state law in connection with the rejection of an unsolicited merger proposal from ConAgra Foods ("ConAgra") (NYSE: CAG). Under the terms of the proposed transaction, Ralcorp shareholders would have received $94.00 per share in cash.
Click here to learn more about the investigation: http://www.zlk.com/ralcorp-holdings-rah, or call: 877-363-5972.
The investigation concerns whether the Board of Ralcorp is acting in Ralcorp shareholders' best interests by refusing to enter into negotiations with ConAgra and rejecting the proposal. The $94.00 per share offer represents the third unsolicited takeover offer from ConAgra. In a Company press release, Ralcorp Chairman of the Board William P. Stiritz indicated that the proposal was rejected in favor of the Board's previously approved decision to separate Post Foods and Ralcorp into two publicly-traded entities. On August 12, 2011, the day Ralcorp rejected the ConAgra offer, Ralcorp stock closed at almost $15.00 below ConAgra's proposed purchase price.
If you own common stock in Ralcorp and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 15th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
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