Case Page

 

Case Status:    ONGOING    
On or around 11/21/2017 (Ongoing date of last review)

Filing Date: November 20, 2017

Inventure Foods, Inc. is a marketer and manufacturer of specialty food brands in “better-for-you” and “indulgent categories” under a variety of company owned and licensed brand names, including Boulder Canyon Foods™, Jamba®, Seattle's Best Coffee®, Rader Farms®, TGI Fridays™, Nathan's Famous®, Vidalia Brands®, Poore Brothers®, Tato Skins®, Willamette Valley Fruit Company™, Fresh Frozen™, Bob's Texas Style® and Sin In A Tin™.

On October 26, 2017, the Company announced that it had entered into an agreement and plan of merger (the “Merger Agreement”) with Utz, by which Utz will acquire all of the outstanding shares of Inventure Foods common stock through an all cash tender offer at a purchase price of $4.00 per share (the “Tender Offer”).

The Tender Offer commenced on November 15, 2017, and the Company concurrently filed a 14D-9 on Schedule 14D-9 (the “14D-9”) with the SEC, recommending that the Company’s stockholders tender their shares for the Tender Offer price. The Tender Offer is set to expire on December 13, 2017.

The Complaint alleges that the 14D-9 is materially false and/or misleading because, inter alia, it fails to disclose certain material internal financial information about the Company, relied on by the Individual Defendants to recommend the Proposed Transaction and by the Company’s financial advisor, Rothschild Inc. (“Rothschild”), to
render an opinion that the Proposed Transaction is fair to Inventure Foods stockholders, which omissions render the 14D-9 incomplete and/or misleading. The Complaint further alleges that the 14D-9 omits material information regarding: (i) certain of the Company’s financial projections and generally accepted accounting principles (“GAAP”) reconciliation of those projections; and (ii) the valuation analyses performed by Rothschild in support of its fairness opinion.




COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SNAK
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Arizona
DOCKET #: 17-CV-04256
JUDGE: Hon. Steven P Logan
DATE FILED: 11/20/2017
CLASS PERIOD START: 10/26/2017
CLASS PERIOD END: 11/20/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. DeConcini McDonald Yetwin & Lacy, P.C.
    2525 E. Broadway, Suite 200, DeConcini McDonald Yetwin & Lacy, P.C., AZ 85716
    520.322.5000 520.322.5585 ·
  2. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
No Document Title Filing Date