NEW YORK, April 15, 2016 /PRNewswire/ -- Notice is hereby
given that Faruqi & Faruqi, LLP has filed a class action
lawsuit in the United States District Court for the District of
Delaware, case no. 1:16-cv-00239,
on behalf of shareholders of The Fresh Market, Inc. ("Fresh Market"
or the "Company") (NasdaqGS:TFM) who hold Fresh Market
securities and have been harmed by Fresh Market's and its board of
directors' (the "Board") alleged violations of Section 14(e),
14(d)(4), and 20(a) of the Securities Exchange Act of 1934 (the
"Exchange Act") in connection with the proposed sale of the
Company to Apollo Global Management, LLC ("Apollo").
On March 14, 2016, the Company
announced it had entered into an Agreement and Plan of Merger
("Merger Agreement") under which Apollo will acquire all of the
outstanding shares of Fresh Market by way of an all-cash tender
offer (the "Proposed Transaction").
The complaint charges Fresh Market and the Board with violations
of Section 14(e), 14(d)(4), and 20(a) of the Exchange Act.
If you wish to obtain information concerning this action or
view a copy of the complaint, you can do so by clicking here:
www.faruqilaw.com/TFMnotice.
Pursuant to the terms of the Merger Agreement, which was
unanimously approved by the Board, Fresh Market shareholders will
receive $28.50 in cash per share for
each share of Fresh Market they own. According to the complaint,
the offer is below the valuations by a group of twenty Yahoo!
Finance analysts who have valued the Company as high as
$44.00 per share recently—a valuation
over 54% greater than that offered in the Proposed Transaction.
Furthermore, the Company has traded significantly higher than
the merger offer recently, hitting a high valuation point of
$41.70 within the last year.
The complaint alleges that the recommendation statement on
Schedule 14D-9 (the "Recommendation Statement") filed with the
Securities and Exchange Commission ("SEC") on March 25, 2016 provides materially incomplete and
misleading information about the Company and the Proposed
Transaction, in violation of Section 14(e), 14(d)(4), and
20(a) of the Exchange Act. The Recommendation Statement fails to
provide Fresh Market's shareholders with material information
concerning the financial and procedural fairness of the Proposed
Transaction.
Take Action
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm
with extensive experience in prosecuting class actions, and
significant expertise in actions involving corporate fraud.
Faruqi & Faruqi, LLP, was founded in 1995 and the firm
maintains its principal office in New
York City, with offices in Delaware, California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. Any member of the putative
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. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Juan E. Monteverde, Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: jmonteverde@faruqilaw.com
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SOURCE Faruqi & Faruqi, LLP
