Ademi & O'Reilly, LLP Investigates Whether OfficeMax Incorporated Has Obtained
a Fair Price in Its Sale to Office Depot, Inc.
MILWAUKEE, Feb. 20, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of
Directors of OfficeMax Incorporated ("OfficeMax") for possible breaches of
fiduciary duty and other violations of state law in connection with the sale
of OfficeMax to Office Depot, Inc. ("Office Depot").
Click here to learn how to join the action:
http://www.ademilaw.com/case/officemax-incorporated or call Guri Ademi
toll-free at 866-264-3995. There is no cost or obligation to you.
OfficeMax's long-term financial outlook is improving and yet OfficeMax
shareholders will receive only 2.69 Office Depot common shares for each share
of OfficeMax common stock. Office Depot is well aware of OfficeMax's improving
financial metrics and is purchasing OfficeMax at a substantial discount. The
merger agreement unreasonably limits prospective bids for OfficeMax by (i)
prohibiting solicitation of any further bids, and (ii) imposing a termination
penalty should OfficeMax receive and accept a superior bid.OfficeMax
insiders, their affiliates and other majority shareholders own significant
voting stock of OfficeMax, and will receive tens of millions of dollars as
part of change of control arrangements, and therefore can unduly influence a
sale of OfficeMax not necessarily in the best interests of non-insider
shareholders.In light of these facts, our investigation centers on the
conduct of OfficeMax's Board of Directors, who have unanimously approved the
transaction, and whether they are (i) fulfilling their fiduciary duties to all
shareholders, and (ii) obtaining a fair and reasonable price for OfficeMax
given its current financial condition and prospects.
If you own common stock in OfficeMax and wish to obtain additional
information, please contact Guri Ademi either at firstname.lastname@example.org or
toll-free: 866-264-3995, http://www.ademilaw.com/case/officemax-incorporated.
We specialize in shareholder litigation involving buyouts, mergers, and
individual shareholder rights throughout the country.For more information,
please feel free to call us. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT: Ademi & O'Reilly, LLP
3620 East Layton Ave.
Cudahy, WI 53110
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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