NEW YORK, July 30, 2014 (GLOBE NEWSWIRE) -- The fairness of the proposed acquisition of Family Dollar Stores, Inc. ("FDO" or the "Company") by Dollar Tree, Inc. ("DLTR") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of FDO for agreeing to sell the Company to DLTR. On July 28, 2014, the companies jointly announced they had reached a definitive agreement for DLTR to acquire all outstanding shares of the Company for $74.50 per common share, for a total equity value of $8.5 billion. Under the terms of the agreement, FDO shareholders will receive $59.60 in cash and $14.90 equivalent in DLTR shares.
WeissLaw LLP is investigating whether FDO's Board acted to maximize shareholder value prior to entering into the agreement with DLTR. Notably, prior to the announcement of the deal, at least one analyst set a price target for FDO stock significantly above the price offered by DLTR under the merger agreement, with a price target of $79.00 – or $4.50 above the price offered by DLTR.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell FDO and whether FDO shareholders will obtain their fair proportionate share of the Company's continued success and future growth prospects. If you own FDO shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also in the process of investigations on behalf of shareholders of Franklin Financial Corporation, Rockwood Holdings, Inc., AmREIT, Inc., URS Corporation, and Medical Action Industries Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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