Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Frozen Food Express Industries, Inc. Over the Proposed Sale of the Company to Duff Brothers Capital Corporation
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Frozen Food Express Industries, Inc. (“Frozen Express” or the “Company”) (NasdaqGS: FFEX) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Duff Brothers Capital Corporation (“Duff Brothers”) in a deal valued at approximately $38 million. Under the terms of the proposed transaction, Frozen Express stockholders will receive $2.10 in cash for each share of Frozen Express common stock they own.
The investigation focuses on whether Frozen Express’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Frozen Express’ shareholders.
If you own common stock in Frozen Express and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.