NEW YORK, Jan. 14, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Primo Water Corporation ("Primo" or the "Company") (NASDAQ: PRMW) in connection with the proposed acquisition of the Company by Cott Corporation ("COT") (NYSE: COT). Under the terms of the acquisition agreement, Primo shareholders will receive $5.04 in cash and 0.6549 COT shares; alternatively, PRMW shareholders can elect to receive $14.00 in cash or 1.0229 COT shares. The deal is scheduled to close in March 2020.
If you own PRMW shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether Primo's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, the Company's third quarter 2019 net sales grew 6.4% year-over-year. Additionally, Primo's stock has an average rating of "buy."
Given these facts, WeissLaw is concerned whether the proposed acquisition agreement undervalues the Company, whether the Board ran a fair process, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
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 email@example.com
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SOURCE WeissLaw LLP