Credit: Aquir/Shutterstock.comShareholder Suits Target Pinnacle Foods' Pending Merger With Conagra
Pinnacle, headquartered in Parsippany, announced on June 27 that Chicago-based Conagra would acquire it in a $10.9 billion cash and stock transaction.
August 10, 2018 at 05:12 PM
3 minute read
Pinnacle Foods Inc. is battling a string of suits in Newark federal court from shareholders who accuse the company of misleading them about its planned merger with Conagra Brands Inc.
Plaintiff Alexander Rasmussen filed a putative class action on Aug. 7, claiming Pinnacle filed a false and misleading proxy statement about the merger on July 25.
Another plaintiff, Robert Paquette, made similar allegations against Pinnacle in a putative class action filed Aug. 9. And a third plaintiff, Wesley Lindquist, also sued the company Aug. 9, likewise accusing it of making false or misleading statements about the pending merger in its proxy statement filed with the SEC.
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