PRNewswire 17-Apr-2019 8:52 AM
SAN DIEGO, April 17, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Smart & Final Stores, Inc. (NYSE:SFS) ("Smart & Final") breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, LLC.
On April 16, 2019, Smart & Final announced that it had signed a definitive merger agreement with Apollo. Under the terms of the merger agreement, Apollo will acquire all of the outstanding shares of Smart & Final in an all-cash transaction. Smart & Final shareholders will receive $6.50 per share in cash.
The investigation concerns whether the Smart & Final board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Smart & Final shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth, also one Wall Street analyst has an $8.00 price target on the stock. The 52-week high for Smart & Final was $7.40.
If you are a shareholder of Smart & Final and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
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SOURCE Johnson Fistel, LLP
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