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Law Office of Brodsky & Smith, LLC Announces Investigation of OfficeMax Incorporated
By: PR Newswire
Feb. 25, 2013 09:30 PM
BALA CYNWYD, Pa., Feb. 25, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of OfficeMax Incorporated ("OfficeMax" or the "Company") (NYSE- OMX-News) relating to the proposed acquisition by Office Depot, Inc. ("Office Depot").
Under the terms of the transaction, OfficeMax shareholders will receive only $13.50 in cash for each share of OfficeMax stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of OfficeMax for not acting in the Company's shareholders' best interests in connection with the sale process to Office Depot. The focus of the investigation is whether the OfficeMax Board of Directors breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction. The transaction may undervalue OfficeMax as an analyst has set a price target of $17.00 per share for OfficeMax stock.
If you own shares of OfficeMax 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 firstname.lastname@example.org visiting http://brodsky-smith.com/545-omx-officemax-incorporated.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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