Harwood Feffer LLP Announces Investigation of Penford Corporation

NEW YORK, Oct. 15, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Penford Corporation ("Penford" or the "Company") (NASDAQ: PENX) concerning the proposed acquisition of the Company by Ingredion Incorporated ("Ingredion").

Under the terms of the transaction, Ingredion would acquire Penford in a transaction valued at approximately $340 million.  Penford shareholders are being offered $19.00 in cash for each share.  The trading high of Penford stock over the previous 52-weeks was $18.89.

Our investigation concerns whether the Penford board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders. 

If you own Penford shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Benjamin I. Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Craig Lowther
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: [phone]
[phone]
Email: [e-mail]
Website: http://www.hfesq.com

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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

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