Press release from PR Newswire
LORILLARD INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Lorillard, Inc.
Tuesday, July 15, 2014
LORILLARD INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Lorillard, Inc.18:36 EDT Tuesday, July 15, 2014
NEW ORLEANS, July 15, 2014 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Lorillard, Inc. ("Lorillard" or the "Company") (NYSE: LO) to Reynolds American Inc. ("Reynolds") (NYSE: RAI). Under the terms of the proposed transaction, shareholders of Lorillard will receive only $50.50 in cash and 0.2909 of a share of Reynolds stock for each share of Lorillard common stock that they own, implying a price of $68.88 per share of Lorillard based on Reynolds's closing share price on July 14, 2014. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (email@example.com) or associate Michael J. Palestina (firstname.lastname@example.org) toll free at any time at 855-768-1857.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC206 Covington St.Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC