Faruqi & Faruqi, LLP, a leading New York securities firm, is investigating the Board of Directors of American Italian Pasta Co. ("AIPC" or the "Company") (NasdaqGS: AIPC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Ralcorp Holdings Inc. Under the terms of the transaction, AIPC shareholders will receive only $53.00 in cash for each AIPC share of common stock they own.
The transaction is structured as a tender offer, which may avoid the need for a shareholder vote. The tender offer is currently set to expire on July 22, 2010 and the Recommendation Statement issued on June 24, 2010 to shareholders may contain material omission and/or misrepresentations. In addition and according to Thompson/First Call, at least one analyst has set a price target of $60 per share. The investigation concerns whether the Recommendation Statement is materially sufficient to permit shareholders to make an informed decision, whether the board has conducted an open sales process and whether the price offered undervalues the Company.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in AIPC and wish to obtain additional information, please visit us at http://www.faruqilaw.com/merger.php or contact Juan E. Monteverde, Esq. either via email at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2010 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
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Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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