SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Golden E...

NEW YORK, July 19, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Golden Enterprises, Inc. ("Golden" or the "Company") (NASDAQ: GLDC) (ISIN: US3810101077) (CUSIP: 381010107) concerning the proposed acquisition of Golden by Utz Quality Foods, Inc.

Golden shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [e-mail] or 212-661-1100 or 888-476-6529, ext. 9980.

The investigation concerns whether the Golden directors are breaching their fiduciary duties by failing to adequately maximize shareholder value.  Under the terms of the proposed transaction, Golden common stockholders will be entitled to receive $12.00 in cash for each share of Golden common stock.

Voting agreements representing majority of the shares have already been entered into by the Company. 

Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 9980
[e-mail]

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SOURCE Pomerantz LLP

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