NEW YORK,
June 19, 2017
/PRNewswire/ -- WeissLaw LLP is investigating possible
breaches of fiduciary duty and other violations of law by the Board
of Directors of Whole Foods Market Inc. ("WFM" or the "Company")
(NASDAQ: WFM) in connection with the proposed
acquisition of the Company by Amazon.com Inc. ("Amazon") for
approximately $13.7
billion. Under the terms of the
agreement, the Company's shareholders will receive $42 in cash for each WFM share they
own.
WeissLaw is investigating whether WFM's Board
acted to maximize shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price
of $47.00, or $5.00 more than Amazon's per-share offer
price. Additionally, prior to the acquisition, on
May 10, 2017, WFM announced positive
financial results, reporting that "total sales increased [] to a
record $3.7 billion," in the second
quarter of 2017. On that same day, the Company also announced
a new capital allocation strategy that it projects will increase
regular quarterly dividends by 29%.
Given these facts, WeissLaw is investigating whether WFM's
Board acted in the best interests of WFM's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own WFM shares and would like more
information about your rights or our investigation, or
if you have information to share with us, please contact
Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/whole-foods-market-inc/
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SOURCE WeissLaw LLP