The Briscoe Law Firm, PLLC & Cash Powers Taylor, LLP Announce Shareholder Investigation into the Acquisition of American Ital...
June 29 2010 - 3:27PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Cash Powers Taylor, LLP
are investigating potential legal claims against the Board of
Directors of American Italian Pasta Company (NASDAQ: AIPC) relating
to the proposed merger of AIPC with Ralcorp Holdings, Inc., a
Missouri corporation (“Ralcorp”) (NYSE: RAH) and Excelsior
Acquisition Co. (“Excelsior”), a Delaware corporation and a
wholly-owned subsidiary of Ralcorp.
The agreement, which was announced on Monday, June 21, 2010,
involves a cash transaction valued at approximately $1.2 billion in
which RAH will the purchase all of the outstanding shares of AIPC’s
Class A Convertible Common Stock for $53.00 per share. Under the
terms of the announced merger, upon completion AIPC will become a
wholly-owned subsidiary of Ralcorp. The transaction is expected to
close during Ralcorp’s fourth fiscal quarter ending in September
30, 2010. The investigation relates to possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of AIPC for approving this transaction, whether the
consideration to be received by AIPC shareholders is fair, and
whether AIPC’s Board of Directors acted in the shareholders’ best
interests.
If you currently own shares of AIPC and would like additional
information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Cash Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@cptlawfirm.com, or The
Briscoe Law Firm at (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20
years of experience in complex litigation and transactional matters
and extensive experience managing governmental relations and
strategic communications advocacy efforts in a variety of areas
including telecommunications, energy, transportation, renewable
energy incentives and municipal governments.
Cash Powers Taylor, LLP is a boutique litigation and corporate
transactional law firm that handles a variety of complex commercial
and business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, high-profile business
disputes, and shareholder derivative suits and security class
actions.
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