AIPC Shareholder Sues Over $1.2B Ralcorp Merger

Law360, New York (June 28, 2010, 6:30 PM EDT) -- An American Italian Pasta Co. shareholder launched a putative class action Monday claiming that Ralcorp Holdings Inc.'s $1.2 billion bid to acquire the noodle maker is too low.

Shareholder Andrew Klenck's suit, lodged in the Court of Chancery of the State of Delaware, names Kansas City, Kan.-based American Italian Pasta, several of its principals and St. Louis-based Ralcorp as defendants, and seeks an injunction blocking the deal, as well as damages.

According to the complaint, American Italian Pasta's financials are getting stronger, with sharply higher earnings...
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