The proposed acquisition of Boulder Brands, Inc. (BDBD) by Pinnacle Foods Inc. (PF) is being investigated by WeissLaw LLP for possible breaches of fiduciary duty and other violations of law by its Board of Directors. In November, BDBD announced it had reached a definitive agreement for PF to acquire all outstanding shares in a transaction valued at approximately $975 million inclusive of debt. Under the terms of the agreement, BDBD shareholders will receive $11.00 in cash for each BDBD share they own.

WeissLaw is investigating whether BDBD’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, the merger price represents a premium of a mere 9% over BDBD’s closing price the day before the announcement. Additionally, BDBD stock traded above the merger price as recently as February 25, 2015 and at least one analyst recently set a target price of $13.00 per BDBD share.

Given these facts, WeissLaw is investigating whether BDBD’s Board acted in the best interests of its shareholders by actively shopping BDBD to maximize shareholder value prior to entering into the agreement with PF. If you own BDBD shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.

from PRNewswire Dec. 2, 2015