|By PR Newswire||
|March 7, 2014 10:00 AM EST||
NEW YORK, March 7, 2014 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of Safeway Inc. ("Safeway" or the "Company") (NYSE: SWY) breached its fiduciary duty to its shareholders in agreeing to sell Safeway to AB Acquisition LLC.
Under the terms of the agreement, Safeway shareholders will receive $32.50 in cash for each share they own. Additionally, shareholders will have the right to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share. The investigation is focused on the potential unfairness of the price to Safeway shareholders and the process by which the Safeway Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a Safeway stockholder, with no obligation or cost to you, please contact U. Seth Ottensoser at:
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last twelve years.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
ATTORNEY ADVERTISING. © 2014 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Bernstein Liebhard LLP
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