SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Class Action Lawsuit
Has Been Filed Against The Board Of Directors Of Arden Group, Inc.
WILMINGTON, Del. -- February 5, 2014
Rigrodsky & Long, P.A. announces a complaint alleging breaches of fiduciary
duty and other violations of law has been filed in Delaware Court of Chancery
against the board of directors of Arden Group, Inc. (“Arden” or the “Company”)
(NASDAQ GM: ARDNA) in connection with the Company’s entry into an agreement to
be acquired by global private investment firm TPG, in a transaction valued at
approximately $394 million.
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Under the terms of the agreement, public shareholders of Arden will receive
$126.50 per share in cash for each share of Arden they own.
The complaint alleges that Arden’s board of directors failed to adequately
shop the Company and obtain the best possible value for Arden’s shareholders
before entering into an agreement with TPG.
If you own the common stock of Arden, purchased your shares before December
20, 2013, and would like to learn more about these allegations, please contact
Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter
Parkway, Suite 120, Wilmington, Delaware 19803; by telephone at (888)
969-4242; by e-mail to firstname.lastname@example.org; 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.
Seth D. Rigrodsky
Gina M. Serra
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