A San Diego law firm specializing in shareholder rights said Friday it has filed a class action lawsuit against Safeway, Albertsons and related companies over the proposed merger of the two companies — the latest in a string of shareholders suits sparked by the $9.4 billion deal.
The suit alleges that certain of the defendants breached, aided and abetted the other defendants’ breaches of their duties and obligations to Safeway shareholders. It also alleges that, in an attempt to secure shareholder approval of the proposed merger, the defendants filed a materially false and misleading preliminary proxy statement that omitted and/or misrepresented information believed to be material to the ability of Safeway shareholders to make an informed decision on whether to approve the merger.
The law firm, Robbins Arroyo LLP, did not specify the alleged omissions and misrepresentations, nor did it name the plaintiff in the lawsuit.
The suit seeks injunctive relief for the plaintiff and other similarly situated shareholders of Pleasanton, Calif.-based Safeway. It was filed in Oakland, Calif., in the U.S. District Court for the Northern district of California. Safeway declined to comment on the suit.
|Suggested Categories||More from Supermarketnews|