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| Protecting the Rights of Shareholders and Consumers |
Monterey Gourmet Foods Inc. Securities Litigation
Monterey Gourmet Foods Inc. (NasdaqGM: PSTA) shareholder litigation over alleged unfair takeover
On October 8, 2009, Monterey Gourmet Foods Inc. (“Monterey” or the “Company”) announced that it agreed to sell the Company to
Pulmuone USA Inc. ("Pulmuone"). Under the terms of the agreement, Monterey shareholders will receive $2.70 in cash for each
share of Monterey common stock they own for a total transaction value of approximately $45.8 million. The investigation concerns
whether Pulmuone is underpaying for the Company thereby harming Monterey shareholders.
On October 8, 2009, Monterey Gourmet Foods Inc. (“Monterey” or the “Company”) announced that it agreed to sell the Company to
Pulmuone USA Inc. ("Pulmuone"). Under the terms of the agreement, Monterey shareholders will receive $2.70 in cash for each
share of Monterey common stock they own for a total transaction value of approximately $45.8 million. The investigation concerns
whether Pulmuone is underpaying for the Company thereby harming Monterey shareholders.
