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The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Del Mont

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  Published in House and Home on Wednesday, December 8th 2010 at 13:20 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--The Law Offices of Vincent Wong are investigating the Board of Directors of Del Monte Foods Co. (NYSE:DLM) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Kohlberg Kravis Roberts, Vestar Capital Partners and Centerview Partners. Under the terms of the transaction, Del Monte shareholders will receive $19.00 per share in cash for each share they own for a total transaction value of approximately $4 billion.

The investigation concerns whether the Del Monte Board of Directors breached their fiduciary duties to Del Monte stockholders by failing to adequately shop the Company before entering into this transaction and whether the buyers are underpaying for Del Monte shares. At least one analyst set a price target for Del Monte common stock at $22 per share.

If you own common stock in Del Monte and wish to obtain additional information, please contact Vincent Wong, Esq. either via email [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/del-monte-foods.html ].

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.