Dole Food (DOLE) Going Private Lawsuit Investigation
Dole Food (DOLE) merger summary
Dole Food (DOLE) announced that it received a proposal to be taken private by Dole Food’s Chairman of the Board and Chief Executive Officer, David H. Murdock, in a transaction valued at approximately $1.5 billion. Under the terms of the proposal, public shareholders of Dole will receive $12.00 per share in cash for each share of Dole they own.
The law offers a mechanism for Dole Food shareholders to challenge the fairness of the proposed transaction
If you are a Dole Food shareholder and would like to learn more about your rights to challenge the Dole Food merger, please complete the web form on this page or call George Pressly, Esq. at 1-(800) 631-6234.
The Dole Food board of directors has explicit duties to DOLE shareholders during the acquisition process
- Is $12.00 per share fair value for Dole Food shareholders? Murdock already owns close to 40% of Dole Foods stock which raises a natural question as to whether $12 is a fair price.
- Has the DOLE board of directors obtained a fair and independent appraisal?
- Have all going-forward compensation packages for current Dole Food executives been properly disclosed in the proxy statement?
- Has the board of directors properly shopped the company to potential additional suitors?
Dole Food (DOLE) merger review may turn into shareholder class action lawsuit
Dole Food shareholders can employ a state law procedure that could force senior management and the board of directors to more adequately disclose the complete terms and conditions of the Dole Food merger. We are investigating whether the proposed transaction is fair to Dole Food shareholders. The investigation concerns whether the Dole Food’s board of directors’ process for consideration of the proposed transaction was adequate, whether Dole Food is acting in its shareholders’ best interests and whether the proposed share price to be paid to Dole Food shareholders is fair and adequate.
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