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Rigrodsky & Long, P.A. Investigates Alberto-Culver Company Buyout

^{Published on 2010-09-27 09:15:39 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Alberto-Culver Company (aAlberto-Culvera or the aCompanya) (NYSE: [ ACV ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Unilever PLC (aUnilevera) in a transaction with a value of approximately $3.7 billion. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/Alberto-CulverCompany-ACV ].

Under the proposed agreement, Unilever will acquire the outstanding common stock of Alberto-Culver for $37.50 per share in cash. The investigation concerns whether Alberto-Culvera™s board of directors failed to adequately shop the Company and obtain the best price possible for Alberto-Culvera™s shareholders before entering into the agreement with Unilever.

As recent as July 26, 2010, Alberto-Culver announced strong third quarter fiscal 2010 sales and profit growth results. Company domestic sales increased 12.7% in the third quarter and international sales increased by 29%. Alberto-Culver President and CEO, V. James Marino, commented: aI am very pleased to report an exceptionally strong quarter of sales and earnings growth in both our U.S. and international segments. Despite challenging economic conditions and soft category growth rates, we continue to outperform the hair care category and gain market share. Double-digit organic sales growth was broad based across our core beauty care brands.a

If you own the common stock of Alberto-Culver and purchased your shares before September 27, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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