An investor in NASDAQ:TFM shares filed a lawsuit against the takeover of The Fresh Market Inc. for $28.50 per share.
Investors who purchased shares of The Fresh Market Inc (NASDAQ:TFM) and currently hold any of those NASDAQ:TFM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:TFM stockholders by agreeing to sell The Fresh Market Inc too cheaply via an unfair process to Apollo Global Management.
On March 14, 2016, The Fresh Market Inc and an affiliate of Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”) announced that they have entered into a definitive agreement whereby certain funds managed by Apollo will acquire The Fresh Market Inc (NASDAQ:TFM) for approximately $1.36 billion. The transaction will be implemented through a cash tender offer at $28.50 per share.
However, plaintiff claims that the proposed consideration NASDAQ:TFM shareholders will receive is grossly inadequate and undervalues The Fresh Market Inc. Indeed, at least one analyst has set the high target price for NASDAQ:TFM shares at $44.00 per share and given that NASDAQ:TFM shares traded in 2015 as high as $41.47 per share. Furthermore, the Fresh Market Inc reported that its Total Revenue rose from over $1.51 billion for the 52 weeks period that ended on January 26, 2014 to over $1.75 billion for the 52 weeks period that ended on January 25, 2015 and shares of The Fresh Market Inc (NASDAQ:TFM) reached in 2012 as high as $62.38 per share. In addition, the plaintiff alleges that the process is also unfair to , NASDAQ:TFM stockholders.
On April 28, 2016, NASDAQ:TFM shares closed at $28.51 per share.
Those who are current investors in The Fresh Market Inc (NASDAQ:TFM) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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