Law Office of Brodsky & Smith, LLC Announces Investigation of Tasty Baking Co.

Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Tasty Baking Co. (“Tastykake” or the “Company”) (Nasdaq - TSTY) relating to the proposed acquisition by Flower Foods (NYSE – FLO) (“Flower”). The deal is worth approximately $165 million, including assumed debt.

Under the terms of the transaction Tastykake shareholders would receive $4.00 cash for each share Tastykake stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Tastykake by not acting in the Company’s shareholders' best interests in connection with the sale process to Flower. The transaction may undervalue Tastykake as the offer is significantly lower than the 52 week high for the stock of $7.90. Additionally, one analyst has set a price target of $14.00 for the Company.

If you own shares of Tastykake stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, visiting http://brodsky-smith.com/275-tsty-tasty-baking-co.html or by calling toll free 877-LEGAL-90.

Tasty Baking Company (MM) (NASDAQ:TSTY)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024