Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Lance, Inc. (“Lance” or the Company) (NASDAQ:LNCE) related to the Company’s agreement to merge into a single company with Snyder’s of Hanover, Inc. (“Snyder’s”). The name of the proposed company will be Snyder’s-Lance, Inc.
Under the terms of the definitive agreement entered into by the parties, after the merger shareholders in Snyder’s and Lance will each own approximately 50% of the combined company. Existing Lance and Snyder’s options will become options in the combined company. As part of the deal, Lance will pay its shareholders a one-time dividend of $3.75 a share. The transaction is expected to close in the fall of 2010.
The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Lance, Inc.’s board of directors.
Law Firm Announces Investigation On Behalf of Shareholders of Lance, Inc.
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