Rigrodsky & Long, P.A. Announces Investigation Of OfficeMax Incorporated
WILMINGTON, Del. -- February 20, 2013
Rigrodsky & Long, P.A.:
*Do you own shares of OfficeMax Incorporated (NYSE: OMX)?
*Did you purchase any of your shares prior to February 20, 2013?
*Do you think the proposed buyout value is too low?
*Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal
claims against the board of directors of OfficeMax Incorporated (“OfficeMax”
or the “Company”) (NYSE: OMX) regarding possible breaches of fiduciary duties
and other violations of law related to the Company’s entry into an agreement
to be acquired by Office Depot, Inc. (“Office Depot”) (NYSE: ODP) in a
transaction valued at approximately $1.1 billion.
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Under the terms of the proposal, public shareholders of OfficeMax will receive
2.69 Office Depot common shares for each share of OfficeMax they own. Based on
Office Depot’s closing stock price of $5.02 on February 19, 2013, OfficeMax
shareholders would have received consideration valued at approximately $13.50
The investigation concerns whether OfficeMax’s board of directors failed to
adequately shop the Company and obtain the best possible value for OfficeMax’s
shareholders before entering into an agreement with Office Depot. According to
Yahoo! Finance, at least one analyst has set a price target for OfficeMax
stock at $17.00.
If you own the common stock of OfficeMax and purchased your shares before
February 20, 2013, if you have information or would like to learn more about
these claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242,
by e-mail to email@example.com, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City,
New York, regularly prosecutes securities class, derivative and direct
actions, shareholder rights litigation and corporate governance litigation, on
behalf of shareholders in states and federal courts throughout the United
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Fax: (302) 654-7530
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