NYSE:BETR Shareholder Notice: Lawsuit Filed in Effort to Halt the Takeover of Amplify Snack Brands

By , in PR PR California on .

San Diego, CA — 01/11/2018 — The Shareholders Foundation announces that an investor, who currently holds shares of Amplify Snack Brands Inc (NYSE:BETR), filed a lawsuit against the acquisition of Amplify Snack Brands Inc. by the Hershey Company for $12.00 per share.

Investors who purchased shares of Amplify Snack Brands Inc (NYSE:BETR) and currently hold any of those NYSE:BETR shares have certain options and should contact the Shareholders Foundation at [email protected] or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BETR stockholders by agreeing to sell Amplify Snack Brands Inc nc cheaply via an unfair process to the Hershey Company.

On December 18, 2017, the Hershey Company (NYSE:HSY) and Amplify Snack Brands, Inc. (NYSE:BETR) announced that they have entered into an agreement under which Hershey will acquire all outstanding shares of Amplify for $12.00 per share in cash.

However, plaintiff claims that the proposed consideration NYSE:BETR shareholders will receive is grossly inadequate and undervalues Amplify Snack Brands. Amplify Snack Brands Inc reported that its annual Total Revenue rose from $183.91 million in 2015 to $270.81 million in 2016 and that its respective Net Income increased from $9.88 million in 2015 to $27.29 million in 2016. Shares of Amplify Snack Brands Inc (NYSE:BETR) reached in 2016 as high as $16.95 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:BETR stockholders

Those who are current investors in Amplify Snack Brands Inc (NYSE:BETR) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]

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Sarah Thompson

Sarah Thompson

Sarah is a financial reporter, focusing on technology, national security, and policing. Before joining Daily Telescope she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.
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