SAN DIEGO and NORTHFIELD,
Ill., May 15, 2015 /PRNewswire/
-- Shareholder rights law firm Robbins Arroyo LLP announces
that it filed a class action lawsuit on May
13, 2015, in the U.S. District Court for the Northern
District of Illinois, Eastern
Division (the "Court") on behalf of the shareholders of Kraft Foods
Group, Inc. ("Kraft") (NASDAQGS: KRFT) against Kraft and its Board
of Directors for, among other things, violations of sections 14(a)
and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange
Act") and U.S. Securities and Exchange Commission Rule 14a-9
promulgated thereunder.
Kraft Is Accused of Disseminating a False and Misleading
Proxy Statement
The complaint arises out of a March 25,
2015 press release announcing that Kraft had entered into a
definitive merger agreement with H.J. Heinz Company ("Heinz")
pursuant to which Kraft shareholders would receive one share of the
combined company, The Kraft Heinz Company, and a $16.50 special dividend for each share owned (the
"Proposed Transaction"). Kraft shareholders will own a 49%
stake in the combined company and current Heinz shareholders will
own a 51% stake. The complaint seeks injunctive relief on
behalf of the named plaintiff and all other similarly situated
shareholders of Kraft (the "Class"). The named plaintiff is
represented by Robbins Arroyo LLP.
The complaint alleges that, in an attempt to secure shareholder
approval of the Proposed Transaction, the defendants filed a
materially false and misleading Definitive Proxy Statement with the
U.S. Securities and Exchange Commission in violation of the
Exchange Act. The omitted and/or misrepresented information is
believed to be material to Kraft's shareholders' ability to make an
informed decision whether to approve the Proposed Transaction.
If you purchased or otherwise acquired Kraft stock prior to the
announcement of the Proposed Transaction on March 25, 2015, and wish to serve as lead
plaintiff, you must move the Court no later than sixty days from
May 15, 2015. If you wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact attorney Darnell R. Donahue of Robbins Arroyo LLP at
800-350-6003, via the shareholder information form on our website,
or by e-mail at info@robbinsarroyo.com. Any member of the
Class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
Class member.
Robbins Arroyo LLP, a nationally recognized leader in the area
of shareholder rights litigation, represents individual and
institutional investors in securities class action lawsuits and
shareholder derivative actions. Robbins Arroyo LLP has helped
its clients realize more than $1
billion of value for themselves and the companies in which
they have invested. Past results do not guarantee similar
outcomes. For more information about the firm, please go to
http://www.robbinsarroyo.com.
Press release link:
www.robbinsarroyo.com/shareholders-rights-blog/kraft-foods-group-inc
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800)
350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP