Rigrodsky & Long, P.A. Announces Investigation Of OfficeMax Incorporated Buyout
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.:
Do you own shares of OfficeMax Incorporated (NYSE:OMX)?
Did you purchase any of your shares prior to February 20, 2013?
Do you think the proposed buyout value is too low?
Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of OfficeMax Incorporated ("OfficeMax" or the "Company") (NYSE: OMX) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Office Depot, Inc. ("Office Depot") (NYSE: ODP) in a transaction valued at approximately $1.1 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/officemax-incorporated-omx.
Under the terms of the proposal, public shareholders of OfficeMax will receive 2.69 Office Depot common shares for each share of OfficeMax they own. Based on Office Depot's closing stock price of $5.02 on February 19, 2013, OfficeMax shareholders would have received consideration valued at approximately $13.50 per share.
The investigation concerns whether OfficeMax's board of directors failed to adequately shop the Company and obtain the best possible value for OfficeMax's shareholders before entering into an agreement with Office Depot. According to Yahoo! Finance, at least one analyst has set a price target for OfficeMax stock at $17.00.
If you own the common stock of OfficeMax and purchased your shares before February 20, 2013, 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 Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/officemax-incorporated-omx.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
KEYWORDS: United States North America Delaware
The article Rigrodsky & Long, P.A. Announces Investigation Of OfficeMax Incorporated Buyout originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.