|[July 02, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Vitacost.com, Inc. In Connection With The Proposed Sale Of The Company To The Kroger Co.
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the board of
directors of Vitacost.com, Inc. ("Vitacost" or the "Company") (NASDAQ:
VITC) relating to the proposed buyout of the Company by The Kroger Co.
On July 2, 2014, Kroger and Vitacost announced that they had entered
into a definitive merger agreement pursuant to which Kroger will acquire
Vitacost in a transaction valued at approximately $280 million.
Under the terms of the transaction, shareholders of Vitacost are
anticipated to receive $8.00 for each share of Vitacost stock they own.
According to i>Yahoo! Finance, at least one analyst has issued a
price target for Vitacost stock at $10.00 per share.
The firm's investigation seeks to determine, among other things, whether
the Company's board of directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into this
transaction, and whether Kroger is underpaying for Vitacost shares.
If you currently own common stock of Vitacost and would like to learn
more about the investigation being conducted by Brower Piven, without
cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at email@example.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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