WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Snyder’s-Lance Inc. (“LNCE” or the “Company”) (NASDAQ: LNCE) in connection with the proposed acquisition of the Company by Campbell Soup Company (“CPB”) (NYSE: CPB). Under the terms of the acquisition agreement, the Company’s shareholders will receive $50.00 in cash for each LNCE share they own.
WeissLaw is investigating whether LNCE’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results for the third quarter of 2017. It reported total net revenue of $564.2 million, representing an increase of approximately 3.7% year-over-year.
Additionally, the acquisition is a strategic transaction from which CPB will greatly benefit. According to the acquisition announcement, this deal “will expand [CPB]’s footprint in the $89 billion U.S. snacking market,” a move which CPB hopes will help put an end to its slumping sales figures. This was a point further underscored by CPB’s CEO when she stated the deal will “dramatically transform [CPB], shifting [its] center of gravity and further diversifying [its] portfolio into the faster-growing snacking category.” The announcement also highlighted LNCE’s impressive net sales of $2.2 billion for the trailing months ended September 30, 2017, and noted its net sales compound annual growth rate of 11.5% from 2012 through 2016.
Given these facts, WeissLaw is investigating whether LNCE’s Board acted in the best interests of LNCE’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own LNCE 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 firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/snyder-s-lance-inc/