Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Overhill Farms, Inc. (OFI)
NEW YORK--(BUSINESS WIRE)-- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Overhill Farms, Inc. (“Overhill” or the “Company”) (NYSE MKT: OFI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Bellisio Foods, Inc. in an all-cash deal valued at approximately $80.9 million. Under the terms of the proposed transaction, Overhill’s stockholders will receive $5.00 for each share of Overhill common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $10.00 for Overhill.
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The investigation focuses on whether Overhill’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Overhill’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Overhill and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/OFI or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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