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Class Action Filed over Proposed Acquisition of Ralcorp Holdings

Stevenson, MD: A securities class action lawsuit has been commenced on behalf of all shareholders of Ralcorp Holdings, Inc. ("Ralcorp" or the "Company"). According to the complaint, the claims arise as a consequence of the allegedly self-interested and unreasonable refusal by Ralcorp's Board of Directors ("Board") to enter into any dialogue in response to multiple offers to acquire the Company made by ConAgra Foods, Inc. ("ConAgra") at prices well above Ralcorp's market price.

The complaint alleges that the Board has repeatedly and unreasonably refused to even discuss a potential transaction with ConAgra in spite of numerous premium offers for all of the outstanding Company shares. Instead, the complaint alleges, Ralcorp has erected barriers to any unsolicited takeover, and hastily and belatedly created and introduced its own plan to break up the Company.

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Last updated on Sep-20-11