Overhill Farms Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Bellis
May 15th 2013 12:03PM
Updated May 15th 2013 12:50PM
Overhill Farms Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Bellisio Foods
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Overhill Farms, Inc. ("Overhill") (NYSE MKT: OFI) to Bellisio Foods, Inc. for shareholders. Under the terms of the proposed sale valued at approximately $80.9 million, Overhill shareholders will only receive $5.00 in cash for each share of Overhill stock owned, well below at least one analyst's estimated value of $10 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you.
The Overhill sale investigation centers on whether Overhill's shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction undervalues Overhill's stock, and whether Overhill's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, according to Yahoo! Finance, at least one analyst estimates that the true inherent value of Overhill shares could be as high as $10 per share, double the proposed sale price. Shareholder rights attorney Willie Briscoe stated that "due to analyst estimates, the size of the deal, the lack of a significant premium and other factors, we believe this transaction may undervalue Overhill's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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