Brodsky & Smith Announces Investigation Of Vitacost.com Regarding Sale

(RTTNews) - Law office of Brodsky & Smith, LLC said it is investigating potential claims against Vitacost.com, Inc.'s (VITC) board, relating to the proposed acquisition by The Kroger Co. (KR).

As part of the transaction, Vitacost shareholders will receive only $8.00 in cash for each share of Vitacost stock they own. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the board of Vitacost for not acting in the company's shareholders' best interests in connection with the sale process.

The transaction may undervalue Vitacost and represents a loss or no real gain for many long term Vitacost shareholders. For example, on August 6, 2013, shares of Vitacost traded at $9.14 per share and an analyst has set a price target of $10.00 per share on Vitacost stock.