Press release from PR Newswire
Lorillard, Inc. Shareholder Alert: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
Tuesday, July 15, 2014
Lorillard, Inc. Shareholder Alert: Rigrodsky & Long, P.A. Announces Investigation Of Buyout12:01 EDT Tuesday, July 15, 2014
WILMINGTON, Del., July 15, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Lorillard, Inc. (NYSE: LO)?
- Did you purchase any of your shares prior to July 15, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Lorillard, Inc. ("Lorillard" or the "Company") (NYSE: LO) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Reynolds American Inc. ("Reynolds") (NYSE: RAI), in a transaction valued at approximately $27.4 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/lorillard-inc-lo.
Under the terms of the agreement, public shareholders of Lorillard would receive $50.50 in cash and 0.2909 shares of Reynolds for each share of Lorillard they own. Based on Reynolds's closing stock price on July 14, 2014, Lorillard shareholders would have received consideration valued at approximately $68.88 per share.
The investigation concerns whether Lorillard's board of directors failed to adequately shop the Company and obtain the best possible value for Lorillard's shareholders before entering into an agreement with Reynolds.
If you own the common stock of Lorillard and purchased your shares before July 15, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/lorillard-inc-lo.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Rigrodsky & Long, P.A.