September 9, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Harry & David Holdings, Inc. (OTCMKTS:HARR), was announced concerning whether the takeover of Harry & David Holdings, Inc. is unfair to OTCMKTS:HARR stockholders.
The investigation by a law firm concerns whether certain officers and directors of Harry & David Holdings, Inc. breached their fiduciary duties owed to OTCMKTS:HARR investors in connection with the proposed acquisition.
On September 2, 2014, 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) announced the signing of an agreement to acquire Harry & David Holdings, Inc. in an acquisition for $142.5 million in cash.
However, the investigation concerns whether the offer is unfair to OTCMKTS:HARR stockholders. More specifically, the investigation concerns whether the Harry & David Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.