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The Law Office of Abe Shainberg Announces an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Alberto

^{Published on 2010-10-05 16:00:45 - Market Wire}
 

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.