MILWAUKEE, July 28, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of FDO for possible breaches of fiduciary duty and other violations of state law in connection with the sale of FDO to Dollar Tree.
Click here to learn how to join the action: http://www.ademilaw.com/case/family-dollar or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
FDO's long-term financial outlook is very positive and yet FDO shareholders will receive the equivalent of $74.50 for each FDO share they own, dramatically less than the price target set by some analysts. Dollar Tree is well aware of FDO's improving financial metrics and is purchasing FDO at a substantial discount. The merger agreement unreasonably limits prospective bids for FDO by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should FDO receive and accept a superior bid. FDO insiders and their affiliates own significant stock of FDO, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of FDO not necessarily in the best interest of non-insider shareholders. In light of these facts, our investigation centers on the conduct of FDO's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for FDO given its current financial condition and prospects.
If you own shares of FDO and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/family-dollar.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.