A law firm recently noted that it filed a securities class action lawsuit against a supermarket owner due to potential breaches of fiduciary duty.
Rigrodsky and Long, P.A., noted that the lawsuit was filed in the Delaware Court of Chancery against Susser Holdings Corporation, after its leaders agreed to be purchased by Transfer Partners, L.P., for close to $1.8 billion.
The deal would provide shareholders with $80.25 in cash, an option to receive approximately 1.45 shares of Energy Transfer Partners, or a combined package of both. However, the choices provided may undervalue the shares, and could also be breaching fiduciary duty and violating law. This sales process may not have been comprehensive enough to get the most value for shareholders before coming to the final agreement.
For those who would like to learn more about the case and how it may affect the interests of shareholders, it is an option to discuss matters with the law office. The best people to speak with are Seth Rigrodsky and Gina Serra, both of whom can be reached by telephone or email. Additionally, it is a possibility for shareholders to visit the law office's website to learn more about this case.
There may be further information available regarding the lead plaintiff position, and how to take part, by contacting the law office.
Separate firm commences investigation
Another law office noted that it will be seeking answers to shareholders' questions regarding the pending deal between Susser Holdings and Energy Transfer Partners, as well as whether the allegations against the leaders at Susser Holdings are true. This could potentially develop into a class action lawsuit in the future.
Brodsky and Smith, LLC, announced that it began an investigation of the pending deal between the two companies for many of the aforementioned reasons. The main reason beyond the allegations of fiduciary duty breaches and state law violations was because the company may have undervalued itself when its leaders came to the agreement, while the premium in the deal was also lower than similar transactions completed in the past.
It is an option for shareholders to discuss these issues with the law firm. Both Evan Smith and Jason Brodsky are available to answer questions from those who own interests in Susser Holdings, and they can be reached by telephone or email. Additional details can also be found on the law office's website.