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Whole Foods Market, Inc. (NASDAQ:WFM) Investor Lawsuit Against Acquisition By Amazon Filed

  • If you purchased shares of Whole Foods Market, Inc. (NASDAQ:WFM) and currently hold any of those NASDAQ:WFM 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
Whole Foods Market, Inc.
Security
NASDAQ: WFM

Case Name
Whole Foods Market Deal Case 08/04/2017
Type of Lawsuit
Mergers and Acquisition
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Summary

August 04, 2017 (Shareholders Foundation) - An investor, who currently holds shares of Whole Foods Market, Inc. (NASDAQ:WFM), filed a lawsuit in effort to halt the proposed takeover of Whole Foods Market, Inc. by Amazon for $42.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:WFM stockholders by agreeing to sell Whole Foods Market, Inc. cheaply via an unfair process to Amazon

On June 16, 2017, Amazon (NASDAQ:AMZN) and Whole Foods Market, Inc. (NASDAQ:WFM) announced that they have entered into a merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt.

However, plaintiff claims that the proposed consideration NASDAQ:WFM shareholders will receive with Amazon’s offer is grossly inadequate and undervalues Whole Foods Market, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:WFM shares at $47.00 per share. Whole Foods Market, Inc. reported that its Total Revenue rose from over $15.38 billion for the 52 weeks period that ended on September 27, 2015 to over $15.72 billion for the 52 weeks period that ended on September 25, 2016. Shares of Whole Foods Market, Inc. (NASDAQ:WFM) reached in early 2015 as high as $56.71 per share.