NEW YORK, Dec. 19, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Snyder's-Lance Inc. ("LNCE" or the "Company")
(NASDAQ: LNCE) in connection with the proposed acquisition of the
Company by Campbell Soup Company ("CPB") (NYSE: CPB). Under
the terms of the acquisition agreement, the Company's shareholders
will receive $50.00 in cash for each
LNCE share they own.
WeissLaw is investigating whether LNCE's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company recently announced positive financial results
for the third quarter of 2017. It reported total net revenue
of $564.2 million, representing an
increase of approximately 3.7% year-over-year.
Additionally, the acquisition is a strategic transaction from
which CPB will greatly benefit. According to the acquisition
announcement, this deal "will expand [CPB]'s footprint in the
$89 billion U.S. snacking
market," a move which CPB hopes will help put an end to its
slumping sales figures. This was a point further underscored
by CPB's CEO when she stated the deal will "dramatically transform
[CPB], shifting [its] center of gravity and further diversifying
[its] portfolio into the faster-growing snacking category."
The announcement also highlighted LNCE's impressive net sales of
$2.2 billion for the trailing months
ended September 30, 2017, and noted
its net sales compound annual growth rate of 11.5% from 2012
through 2016.
Given these facts, WeissLaw is investigating whether LNCE's
Board acted in the best interests of LNCE's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own LNCE shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/snyder-s-lance-inc/
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SOURCE WeissLaw LLP