OfficeMax Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Office Depot

  OfficeMax Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP
  Investigate Sale to Office Depot

Business Wire

DALLAS -- February 20, 2013

Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of OfficeMax Inc. (“OfficeMax”) (NYSE: OMX) to Office
Depot, Inc. for shareholders. Under the terms of the proposed sale valued at
approximately $1.2 billion, OfficeMax shareholders will only receive 2.69
shares of Office Depot common stock for each OfficeMax share. Based on
Tuesday’s closing price, the consideration for this sale is valued at $13.50,
well below at least one analyst’s estimated value of $17.00 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
zach@powerstaylor.com. There is no cost or fee to you.

The OfficeMax sale investigation centers on whether OfficeMax’s shareholders
are receiving adequate compensation for their shares in the proposed deal,
whether the transaction undervalues OfficeMax’s stock, and whether OfficeMax’s
board attempted to obtain the highest share price for all shareholders prior
to agreeing to the deal. Notably, according to at least one analyst with
Yahoo! Finance, the true inherent value of OfficeMax could be as high as
$17.00 per share. According to shareholder rights attorney Patrick Powers,
“based on the historical trading prices, the proposed sale price and other
factors, we believe this transaction may undervalue OfficeMax’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.

Contact:

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor, LLP
Zach Groover, 877-728-9607
zach@powerstaylor.com
 
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