House & Home
Tue, October 12, 2010Mon, October 11, 2010Sun, October 10, 2010Fri, October 8, 2010Thu, October 7, 2010Wed, October 6, 2010Tue, October 5, 2010Mon, October 4, 2010Sun, October 3, 2010Sat, October 2, 2010Fri, October 1, 2010Thu, September 30, 2010Wed, September 29, 2010The Law Office of Abe Shainberg Announces an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Alberto
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Published in House and Home on Tuesday, October 5th 2010 at 16:00 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Alberto-Culver Company (NYSE: ACV) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Unilever PLC (NYSE: UL). Under the terms of the transaction, Alberto-Culver shareholders will receive $37.50 in cash for each share of Alberto-Culver common stock they own for a total transaction value of approximately $3.7 billion.
The investigation concerns whether the Alberto-Culver Board of Directors breached their fiduciary duties to Alberto-Culver stockholders by failing to adequately shop the Company before entering into this transaction and whether Unilever is underpaying for Alberto-Culver shares. At least one analyst set a price target of $38 per share for Alberto-culver stock. Also, the investigation concerns whether the Board took into account Alberto-Culvera™s improving financial position when agreeing to sell the Company. As recently as July 26, 2010, Alberto-Culver announced strong third quarter fiscal 2010 sales and profit growth results. The Companya™s domestic sales increased 12.7% in the third quarter and international sales increased by 29%.
If you own common stock in Alberto-Culver and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/albertoculver-acv.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.