Investigation of Lorillard, Inc.
Smithtown, New York – July 16, 2014
The Law Office of Jack Stuart Beige & Associates, PC, announces it is investigating the Board of Directors of Lorillard, Inc. (NYSE: LO) for possible breaches of fiduciary duties and other violations of law in connection with Lorillard, Inc.’s agreement to be acquired by Reynolds American, Inc. (NYSE: RAI) (“Reynolds”) in a transaction valued at approximately $27.4 billion.
Under the terms of the agreement, public shareholder of Lorillard, Inc. (“Lorillard”) would receive $50.50 in cash and 0.2909 shares of Reynolds for each share of Lorillard they own.
The investigation concerns whether Lorillard’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Lorillard’s stockholders would be fair and adequate, and whether Lorillard is acting in its stockholders’ best interests.