Faruqi & Faruqi, LLP Encourages American Italian Pasta Co. Shareholders to Exercise their Legal Rights - AIPC
July 12 2010 - 6:04PM
Business Wire
Faruqi & Faruqi, LLP, a leading New York securities firm, is
investigating the Board of Directors of American Italian Pasta Co.
("AIPC" or the "Company") (NasdaqGS: AIPC) for possible breaches of
fiduciary duty and other violations of state law in connection with
their attempt to sell the Company to Ralcorp Holdings Inc. Under
the terms of the transaction, AIPC shareholders will receive only
$53.00 in cash for each AIPC share of common stock they own.
The transaction is structured as a tender offer, which may avoid
the need for a shareholder vote. The tender offer is currently set
to expire on July 22, 2010 and the Recommendation Statement issued
on June 24, 2010 to shareholders may contain material omission
and/or misrepresentations. In addition and according to
Thompson/First Call, at least one analyst has set a price target of
$60 per share. The investigation concerns whether the
Recommendation Statement is materially sufficient to permit
shareholders to make an informed decision, whether the board has
conducted an open sales process and whether the price offered
undervalues the Company.
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, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in AIPC and wish to obtain additional
information, please visit us at http://www.faruqilaw.com/merger.php
or contact Juan E. Monteverde, Esq. either via email at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2010 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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