VITACOST SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Vitacost.com, Inc. (VITC) Over the Proposed Sale of the Company to The Kroger Co. (KR)
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 Vitacost.com, Inc. (“Vitacost” or the “Company”) (NASDAQ: VITC) for potential breaches of fiduciary duties in connection with the sale of the Company to The Kroger Co. (“Kroger”) (NYSE: KR) for approximately $280 million. The Company’s stockholders will only receive $8.00 in cash for each share of Vitacost common stock they own. According to Yahoo! Finance, at least one analyst has set a price target of $10 for the Company.
The investigation focuses on whether Vitacost’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Vitacost’s shareholders.
If you own common stock in Vitacost and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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