Faruqi & Faruqi, LLP Announces Investigation of Imperial Sugar Co. (IPSU)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Imperial Sugar Co. (“Imperial Sugar” or the “Company”) (NASDAQ: IPSU) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Louis Dreyfus Commodities LLC in an all-cash deal valued at about $78 million. Under the terms of the proposed transaction, Imperial Sugar stockholders will receive $6.35 in cash for each share of Imperial Sugar common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $20.00 for Imperial Sugar. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
Whether Imperial Sugar’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 the proposed transaction undervalues Imperial Sugar’s shares and by how much this proposed transaction undervalues the Company to the detriment of Imperial Sugar’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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