STEVENSON, Md. -- (Business Wire)

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Chiquita Brands International Inc. (“Chiquita” or the “Company”) (NYSE: CQB) relating to the proposed buyout of the Company by Cutrale-Safra.

On October 27, 2014, Chiquita and Cutrale-Safra announced the signing of a definitive merger agreement pursuant to which Cutrale-Safra will acquire Chiquita in a transaction valued at approximately $1.3 billion.

Under the terms of the transaction, Chiquita shareholders are anticipated to receive $14.50 for each share of Chiquita common stock they own. The transaction is expected to close by the end of 2014 or early 2015, though Chiquita shareholders will most likely be asked to vote on the transaction well before that time.

The firm’s investigation seeks to determine, among other things, whether Chiquita’s Board of Directors failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.

The transaction may undervalue Chiquita and represents a loss or no real gain for many Chiquita shareholders. In particular, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for Chiquita stock at $16.00 per share.

If you currently own common stock of Chiquita and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

Contacts:

Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com

Source: Brower Piven, A Professional Corporation