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SUPERVALU, Inc. (SVU)

NYSE:SVU

Summary

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against SUPERVALU, INC.

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, No. 1:18-cv-01311, on behalf of shareholders of SUPERVALU, INC. (“SUPERVALU” or the “Company”) (NYSE:SVU) who have been harmed by SUPERVALU’s and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with  the proposed merger of the Company with Jedi Merger Sub, Inc. (“Merger Sub”).

On July 25, 2018, the Board caused the Company to enter into an agreement and plan of merger (“Proposed Transaction”) under which SUPERVALU’s stockholders will receive $32.50 in cash for each share of SUPERVALU common stock they hold (the “Merger Consideration”).

The complaint alleges that the Schedule 14A Proxy Statement (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on August 21, 2018, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to SUPERVALU shareholders.

Contact Counsel

Nadeem Faruqi
James M. Wilson, Jr.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 09/13/2018

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