NYSE
CQB

Chiquita Brands International, Inc.

Shareholder Corporation Litigation

Rigrodsky & Long, P.A. Announces Investigation Of Chiquita Brands International, Inc. (NYSE: CQB) Merger

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Chiquita Brands International, Inc. (“Chiquita” or the “Company”) (NYSE: CQB) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to merge with Fyffes plc (“Fyffes”).

Under the terms of the agreement, public shareholders of Chiquita would receive one ChiquitaFyffes share for each share of Chiquita they own.  Chiquita shareholders are expected to own approximately 59.6% of ChiquitaFyffes.

The investigation concerns whether Chiquita’s board of directors failed to adequately shop the Company and obtain the best possible value for Chiquita’s shareholders before entering into an agreement with Fyffes.  In particular, on October 15, 2014, the Cutrale-Safra Group announced a definitive offer to acquire all the outstanding stock of Chiquita for $14.00 per share in cash.  This offer represents a highly attractive premium of approximately 40% to the market's valuation of the original proposed transaction with Fyffes based on Chiquita's undisturbed closing share price of $10.06 as of August 8, 2014 and an approximately 19% premium to the adjusted stock price of $11.80, based upon the revised Fyffes transaction.

If you own the common stock of Chiquita and purchased your shares before October 15, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com.  

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

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