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Roundy’s Inc (NYSE:RNDY) Investor Filed Lawsuit Over Alleged Wrongdoing In Acquisition

  • If you purchased shares of Roundy’s Inc (NYSE:RNDY) and currently hold any of those NYSE:RNDY shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Roundy's Inc
Security
NYSE: RNDY

Case Name
Roundy's Deal Case 11/25/2015
Type of Lawsuit
Mergers and Acquisition
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Summary

November 30, 2015 (Shareholders Foundation) - An investor who currently holds shares of Roundy’s Inc (NYSE:RNDY), filed a lawsuit in effort to halt the proposed takeover of Roundy’s Inc by The Kroger Co for $3.60 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:RNDY stockholders by agreeing to sell Roundy’s Inc too cheaply via an unfair process to The Kroger Co.

On November 11, 2015, The Kroger Co. (NYSE: KR) and Roundy's Inc (NYSE:RNDY) announced a merger agreement under which Kroger will purchase all outstanding shares of Roundy’s for $3.60 per share in cash.

However, the plaintiff claims that the proposed consideration NYSE:RNDY shareholders will receive is grossly inadequate and undervalues Roundy's Inc. Indeed, at least one analyst has set the high target price for NYSE:RNDY shares at $4.00 per share and NYSE:RNDY shares traded as recently as April 2015 in the open market as high as $5.93 per share. Furthermore, shares of Roundy's Inc (NYSE:RNDY) reached as high as $10.11 per share in early 2014 and as high as $12.27 per share in May 2012. In addition, the plaintiff alleges that the process is also unfair to NYSE:RNDY stockholders.