NEW YORK, July 16, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that shareholder class actions have been filed against the Board of Directors of Vitacost.com, Inc. ("Vitacost" or the "Company") (Nasdaq:VITC) concerning the proposed acquisition of the Company by the Kroger Co. (KR). Under the terms of the definitive merger agreement, Vitacost stockholders will receive $8.00 in cash for each share of Vitacost common stock they own, valuing the transaction at approximately $280 million.
The shareholder class actions concern whether the Vitacost Board of Directors breached its fiduciary duties to act in the best interest of Vitacost shareholders by agreeing to the proposed transaction and whether the proposed consideration adequately values the Company's common stock.
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT: Morgan & Morgan Peter Safirstein, Esq. 28 West 44th Street Suite 2001 New York, NY 10036 1-800-631-6234 firstname.lastname@example.orgSource: Morgan Securities Law