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Harris Teeter Supermarkets Inc. (HTSI)

(NYSE: HTSI)

Summary

Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Harris Teeter Supermarkets Inc. Over the Proposed Sale of the Company to The Kroger Co.

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 Harris Teeter Supermarkets Inc. (“Harris Teeter” or the “Company”) (NYSE: HTSI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to The Kroger Co. (NYSE: KR) in a deal valued at approximately $2.5 billion.  Under the terms of the proposed transaction, Harris Teeter’s stockholders will receive $49.38 in cash for each share of Harris Teeter common stock they own.

The investigation focuses on whether Harris Teeter’s 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 Harris Teeter’s shareholders. 

If you own common stock in Harris Teeter and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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  • Company:
    Harris Teeter Supermarkets Inc. (HTSI)
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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 07/10/2013

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