June 13, 2013 (Shareholders Foundation) - An investigation on behalf of investors in Dole Food Company, Inc. (NYSE:DOLE) shares was announced concerning whether the offer by the Companys Chairman of the Board and CEO to acquire Dole Food Company, Inc. for $12.00 per NYSE:DOLE share and the takeover process are unfair to investors NYSE:DOLE shares.

The investigation by a law firm concerns whether certain officers and directors of Dole Food Company, Inc. breach their fiduciary duties owed to NYSE:DOLE investors in connection with the proposed acquisition.

On June 11, 2013, Dole Food Company, Inc. announced that its Board of Directors has received an unsolicited proposal from David H. Murdock, the Companys Chairman of the Board and CEO, to acquire all of the outstanding shares of common stock of Dole Food Company, Inc. not already owned by Mr. Murdock or his family for $12.00 per share in cash.

However, given that following the takeover proposal jumped to $12.65 per share on June 12, 2013 and that NYSE:DOLE shares traded as high as $14.35 per share in October 2012, the investigation by a law firm concerns whether the offer is too low for NYSE:DOLE stockholders. More specifically, the investigation focuses on whether the Dole Food Company Board of Directors will undertake an adequate sales process, will adequately shop the company before entering into the transaction, will maximize shareholder value by negotiating the best price, and will act in the shareholders' best interests in connection with the proposed sale.

Dole Food Company, Inc. reported that its Total Revenue fell from over $4.77 billion for the 52 weeks period that ended on Dec. 31, 2011 to over $4.24 billion for the 52 weeks period that ended on Dec. 29, 2012 and that its Net Income of $38.36 million for the 52 weeks period that ended on Dec. 31, 2011 declined to a Net Loss of $144.46 million.

On June 13, 2013, NYSE:DOLE shares closed at $12.72 per share.