Tripp Levy PLLC investigating the acquisition of Vitacost.com, Inc. on behalf of its shareholders
July 2, 2014
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights law firm announces that it is investigating the acquisition of Vitacost.com, Inc. (NASDAQ: VITC) on behalf of its shareholders. It was announced that The Kroger Co. and Vitacost.com entered into a definitive merger agreement under which Kroger will purchase all outstanding shares of Vitacost.com for $8.00 per share in cash, or approximately $280 million.
The investigation concerns whether the board of directors of Vitacost.com engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, and whether the price of $8 per share is unfairly low. Indeed, analysts have projected that the true going forward inherent value of the company is worth at least $10 per share. Further, the company has no long term debt and its stock price reached a high of $9.40 per share recently.
Tripp Levy PLLC, and its affiliate, Milberg LLP, have recovered billions of dollars for shareholders in securities actions across the nation. Attorney advertising. Prior results do not indicate a similar outcome.