Robbins Umeda LLP Is Investigating drugstore.com, inc. Acquisition for Shareholders
24 Marzo 2011 - 2:31PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, is
interested in helping shareholders of drugstore.com, inc. The firm
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by members of the board of
directors of drugstore.com, inc. (NASDAQ: DSCM) in connection with
their efforts to sell drugstore.com to Walgreen Co. (NYSE:
WAG).
If you own stock in drugstore.com and would like more
information about your rights as a shareholder, please contact
Gregory E. Del Gaizo at 800-350-6003 or via the shareholder
information form on our website.
On March 24, 2011, drugstore.com announced it has entered into a
definitive merger agreement under which Walgreens will acquire all
of the outstanding common shares of drugstore.com. Under the
current agreement, drugstore.com shareholders will receive $3.80 in
cash for each share of drugstore.com common stock they hold. The
transaction is expected to close by the end of June 2011.
The investigation is focused on whether drugstore.com's board of
directors is undertaking a fair process to obtain maximum value for
its shareholders. Notably, on February 8, 2011, drugstore.com
reported strong sales figures of $123.6 million, beating consensus
estimates of $120.6 million. Additionally, the merger agreement
contains a termination fee over $15 million, which drugstore.com
will have to pay under certain circumstances, such as the board of
directors agreeing to a higher offer.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights attorneys.
Robbins Umeda LLP has helped its clients realize more than $1
billion of value for themselves and the companies in which they
have invested. For more information, please go to
http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/drugstore-com/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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