Golden Enterprises, Inc. (NASDAQ:GLDC) Investor Investigation Over Potential Wrongdoing In Acquisition

If you purchased shares of Golden Enterprises, Inc. (NASDAQ:GLDC) and currently hold any of those NASDAQ:GLDC shares, you have certain options and you should contact the Shareholders Foundation, INc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Golden Enterprises
Affected Securities: 
NASDAQ: GLDC

July 25, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Golden Enterprises, Inc. (NASDAQ:GLDC), was announced concerning whether the takeover of Golden Enterprises, Inc. by Utz Quality Foods, Inc. of Hanover, PA for $12.00 per share is unfair to NASDAQ:GLDC stockholders.

The investigation by a law firm concerns whether certain officers and directors of Golden Enterprises, Inc. breached their fiduciary duties owed to NASDAQ:GLDC investors in connection with the proposed acquisition.

On July 19, 2016, Golden Enterprises, Inc. (NASDAQ:GLDC) and Utz Quality Foods, Inc. of Hanover, PA announced that they entered into a merger agreement on July 18, 2016, pursuant to which Utz Quality Foods, Inc. of Hanover, PA will acquire Golden Enterprises, Inc and NASDAQ:GLDC will receive $12.00 per share in cash.

However, the investigation concerns whether the offer is unfair to NASDAQ:GLDC stockholders. More specifically, the investigation concerns whether the Golden Enterprises Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.