Aug. 17, 2010 (Business Wire) -- The Law Office of Joseph Klein is investigating the Board of Directors of Pactiv Corporation (“Pactiv” or the “Company”) (NYSE: PTV) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Reynolds Group Holdings Limited ("Reynolds"). Under the terms of the deal, Pactiv shareholders will receive $33.25 in cash per share for a total transaction value of approximately $6.0 billion.
The investigation concerns whether the Pactiv Board of Directors breached their fiduciary duties to Pactiv stockholders by failing to adequately shop the Company before entering into this transaction and whether Reynolds is underpaying for Pactiv shares. Analysts set a median price target for Pactiv stock at $34.00 per share with one analyst setting a price target of $35.00 per share.
If you own common stock in Pactiv and wish to obtain additional information about this investigation and what is being done to advance the interests of the shareholders, please contact Joseph Klein, Esq. directly, via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www.jkleinlawfirm.com/pactiv-ptv.html.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.
CONTACT:
Joseph Klein, Esq.
1560 East 27th Street
Brooklyn, NY 11229
Telephone: (718) 947-0005
Fax: (718) 799-1443
Toll Free: (877) STOK-180 (877-786-5180)
E-Mail: jk@jkleinlawfirm.com
The Web: www.jkleinlawfirm.com
The Law Office of Joseph Klein
Joseph Klein, Esq., 718-947-0005 or
877-786-5180
jk@jkleinlawfirm.com
www.jkleinlawfirm.com
