Press release from PR Newswire
VITACOST INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Vitacost.com, Inc. Board of Directors in Connection With the Proposed Sale of the Company to The Kroger Co.
Monday, July 07, 2014
VITACOST INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Vitacost.com, Inc. Board of Directors in Connection With the Proposed Sale of the Company to The Kroger Co.18:15 EDT Monday, July 07, 2014
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Vitacost.com, Inc.
NEW YORK, July 7, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Vitacost.com, Inc. ("Vitacost" or the "Company") (NASDAQ: VITC) for potential breaches of fiduciary duties in connection with the sale of the Company to The Kroger Co. ("Kroger") (NYSE: KR) for approximately $280 million. The Company's stockholders will only receive $8.00 in cash for each share of Vitacost common stock they own. According to Yahoo! Finance, at least one analyst has set a price target of $10 per share for the Company.
Click here for more information: www.faruqilaw.com/VITC. There is no cost or obligation to you.
The investigation focuses on whether Vitacost's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Vitacost's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Vitacost and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/VITC or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Contact:Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew York, NY 10017Attn: Juan E. Monteverde, Esq.email@example.comToll Free: (877) 247-4292Phone: (212) 983-9330
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