Robbins Umeda LLP Announces an Investigation of the Acquisition of Del Monte Foods Company
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors (“Board”) of Del Monte Foods Company (“Del Monte” or the “Company”) (NYSE: DLM) in connection with their efforts to sell the Company to an investor group comprised of Kohlberg Kravis Roberts & Co., Vestar Capital Partners, and Centerview Partners. If the transaction is completed, Del Monte shareholders will receive $19.00 in cash for each share of Del Monte common stock they hold. The transaction is expected to close in March 2011.
Robbins Umeda LLP’s investigation concerns whether Del Monte’s Board undertook a fair process to obtain fair consideration for all Del Monte shareholders. Specifically, our investigation concerns whether members of the Company’s Board breached their fiduciary duties to Del Monte shareholders by failing to adequately shop the Company before entering into the transaction with the investor group.
If you are a shareholder of Del Monte, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.