Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Harris Teeter Supermar
Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Harris Teeter Supermarkets Inc. Over the Proposed Sale of the Company to The Kroger Co.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors ofHarris Teeter Supermarkets Inc.
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 Harris Teeter Supermarkets Inc. ("Harris Teeter" or the "Company") (NYS: HTSI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to The Kroger Co. (NYS: KR) in a deal valued at approximately $2.5 billion. Under the terms of the proposed transaction, Harris Teeter's stockholders will receive $49.38 in cash for each share of Harris Teeter common stock they own.
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The investigation focuses on whether Harris Teeter'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 Harris Teeter'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 Harris Teeter and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/HTSI 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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