In an announcement, Rigrodsky and Long PA has announced that it is investigating legal claims against the Dole Food Company Inc board of directors. The claim is based allegations of breaches of fiduciary duties and other violations.
The investigations stems from the Company receiving a proposal sent to the Chairman of the Board and CEO David H. Murdock. The proposal forwards an offer of about US$1.5 billion.
The proposal details that public shareholders of Dole are set to receive US$12.00 per share in cash for each Dole share owned. The investigation focuses on the process for consideration of the transaction. On the other hand, Dole is protecting its shareholders and if the offered price per share is fair and adequate for all the parties.
The firm holds offices in Wilmington, DE and Garden City, NY where it manages cases involving securities, derivative and direct actions, shareholder rights and corporate governance litigation.
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