Rigrodsky & Long, P.A. Investigates Del Monte Foods Company Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Del Monte Foods Company (“Del Monte” or the “Company”) (NYSE: DLM) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Kohlberg Kravis Roberts & Co., L.P. (“KKR”), Vestar Capital Partners (“Vestar”), and Centerview Partners (“Centerview”) in a transaction valued at approximately $5.3 billion (including the assumption of approximately $1.3 billion in net debt). Click here to learn how to join the action: http://www.rigrodskylong.com/news/DelMonteFoodsCo-DLM.

Under the proposed agreement, KKR, Vestar and Centerview will acquire all of the outstanding common shares of Del Monte for $19.00 per share in cash.

The investigation concerns whether Del Monte’s board of directors failed to adequately shop the Company and obtain the best price possible for Del Monte’s shareholders before entering into the agreement with KKR, Vestar, and Centerview. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $22.00 per share for Del Monte stock.

If you own the common stock of Del Monte and purchased your shares before November 25, 2010, 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, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at [phone], or by e-mail to [e-mail].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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