Harris Teeter shareholders file lawsuit
Posted July 18, 2013
Harris Teeter shareholders filed a lawsuit on Tuesday in Mecklenburg County as a result of the sale of the chain to Kroger. According to an article in the Charlotte Observer, the lawsuit indicates that Harris Teeter "failed to get a high enough premium to its closing price." The purchase price was a 1.8% premium above the closing price from the day before.
It looks like shareholders have requested that the sale be blocked or that they receive damages. It will be interesting to see how this plays out. We'll keep you posted as more information becomes available.