A lawsuit was filed for investors in NASDAQ:IPUS shares in effort to stop the proposed acquisition of Imperial Sugar Company for $6.35 per share and NASDAQ:IPSU stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 05/08/2012 --An investor in NASDAQ:IPSU shares filed a lawsuit against directors of Imperial Sugar Company in effort to stop the proposed takeover of Imperial Sugar Company by Louis Dreyfus Commodities LLC at $6.35 per share.

Investors who purchased shares of Imperial Sugar Company (NASDAQ:IPSU) prior to May 1, 2012 and currently hold any of those NASDAQ:IPSU shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that defendants breached their fiduciary duties owed to NASDAQ:IPSU stockholders arising out of the attempt to sell Imperial Sugar Company too cheaply and via an unfair process to Louis Dreyfus Commodities

On Tuesday, May 1, 2012, Imperial Sugar Company and Louis Dreyfus Commodities LLC announced an agreement under which a subsidiary of Louis Dreyfus Commodities LLC will acquire Imperial Sugar through a cash tender offer and second step merger at $6.35 per share. The all-cash transaction represents a value of approximately $203 million, including the assumption of debt and pension liabilities. Imperial Sugar Company said the $6.35offer represents a 57% premium to Imperial Sugar’s closing stock price on April 30, 2012, the last trading day prior to today’s announcement, and a 50% premium to Imperial Sugar’s trailing 30-day volume weighted average stock price.

However, the plaintiff alleges that the $6.35offer undervalues the company and is unfair to NASDAQ:IPUS stockholders. In fact, NASDAQ:IPSU shares traded as recently as February 13, 2012 as high as $7.03 per share and at least one analyst has set the high target price at $20 per share, thus well above the current offer.

Those who are current investors in Imperial Sugar Company (NASDAQ:IPSU) and purchased their Imperial Sugar shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com