An 80-year-old Japanese extreme skier who just missed becoming the oldest man to reach the summit of Mount Everest five years ago is back on the mountain to make another attempt at the title.Full Story >
An 80-year-old Japanese mountaineer on Thursday became the oldest person to reach the top of Mount Everest - although his record may last only a few days. An 81-year-old Nepalese man, who held the previous record, plans his...Full Story >
Thursday, May 23 2013 12:07 AM EDT2013-05-23 04:07:35 GMT
So just what is a tornado cave? The idea of a tornado cave goes back to the 1880s, and the first member of my list of severe storm 'rock stars'. Sometime in the future, I will reveal all the members ofFull Story >
So just what is a tornado cave? The idea of a tornado cave goes back to the 1880s, and the first member of my list of severe storm 'rock stars'.Full Story >
Wednesday, May 22 2013 11:48 PM EDT2013-05-23 03:48:39 GMT
In preparation of Memorial Day, a group of boy scouts spent Wednesday evening putting flags at CVG. The young men from Troop 1 in Florence, along with members of the local American Legion, lined the entranceFull Story >
In preparation of Memorial Day, a group of boy scouts spent Wednesday evening putting flags at CVG.Full Story >
Wednesday, May 22 2013 11:29 PM EDT2013-05-23 03:29:53 GMT
Local residents had their final chance to weigh in on Cincinnati's $35 million budget deficit on Wednesday evening. In addition, Councilwoman Laure Quinlivan made a new proposal during the meeting asFull Story >
Local residents had their final chance to weigh in on Cincinnati's $35 million budget deficit on Wednesday evening. In addition, Councilwoman Laure Quinlivan made a new proposal as an effort to fill the budget gap. Full Story >
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SOURCE Robbins Arroyo LLP
SAN DIEGO and NAPERVILLE, Ill., Feb. 22, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of OfficeMax Incorporated (NYSE: OMX) by Office Depot, Inc. (NYSE: ODP). OfficeMax, together with its subsidiaries, distributes business-to-business and retail office products.
On February 20, 2013, OfficeMax and Office Depot announced a definitive merger agreement whereby the companies will combine in an all-stock merger. OfficeMax shareholders will receive 2.69 Office Depot common shares for each share of OfficeMax common stock, an implied cash value of $13.50. The transaction has been unanimously approved by the board of directors at both companies and is expected to close by the end of 2013.
The Board of Directors' Actions May Prevent OfficeMax Shareholders from Receiving the Maximum Value for Their Stock
Robbins Arroyo LLP's investigation focuses on whether the board of directors at OfficeMax is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in light of the proposed acquisition. The merger consideration is below the $15.00 target price of Sidoti and Co. and the $17.00 target price of B. Riley and Co.
Further, on February 20, 2013, OfficeMax reported financial results for the fourth quarter and full year 2012. Specifically, during the full year 2012, OfficeMax generated $185.2 million in cash flow from operations compared to $53.7 million in the full year 2011. Moreover, OfficeMax's retail segment experienced an increase in gross profit margins to 28.2% in the fourth quarter of 2012 from 26.9% on the fourth quarter of 2011. Bruce Besanko, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer of OfficeMax stated, "Our continued strong financial position enables us to invest in our strategic objectives, which we believe will create long-term value for shareholders."
Given these facts, the firm is examining the board of directors' decision to sell OfficeMax now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
OfficeMax shareholders have the option to file a class action lawsuit against the company to secure the best possible price for shareholders and the disclosure of material information so shareholders can vote on the transaction in an informed manner. OfficeMax shareholders interested in information about their rights and potential remedies can contact Darnell R. Donahue at (800) 350-6003, firstname.lastname@example.org, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsarroyo.com.
Tuesday, May 21 2013 10:31 PM EDT2013-05-22 02:31:55 GMT
The claim that the ongoing IRS scandal is limited to low level employees is falling apart. The six Cincinnati workers we have identified, who sent scrutinizing letters to conservative groups with wordsFull Story >
The claim that the ongoing IRS scandal is limited to low level employees is falling apart. Full Story >
Monday, May 20 2013 9:21 AM EDT2013-05-20 13:21:47 GMT
WILMINGTON, NC (WECT) - An Army wife who lost over 100 pounds while her husband was away in Afghanistan surprised the soldier Wednesday when he arrived at Wilmington International Airport. Misty Shaffer,Full Story >
A soldier from Wilmington returns from Afghanistan to a big surprise: a new wife, a new house and a different child.Full Story >
An Oregon girl abducted as a baby and missing for 18 years finally emerged in Dallas this week when her mother turned herself in to authorities, according to the Polk County Sheriff's Department. Full Story >
An Oregon girl abducted as a baby and missing for 18 years finally emerged in Dallas this week when her mother turned herself in to authorities, according to the Polk County Sheriff's Department.Full Story >
Monday, May 20 2013 5:09 PM EDT2013-05-20 21:09:30 GMT
A Warren County government office is evacuated after a suspicious powder is found. The Health and Human Services Center building on East Street in Lebanon was evacuated just after 11:00 on Monday. PoliceFull Story >
Police say that HAZMAT crews and the FBI were called to investigate the powder. The FBI has since left. Full Story >
Wednesday, May 22 2013 6:21 PM EDT2013-05-22 22:21:12 GMT
(RNN) - British officials are saying one man is dead and two others were injured in a possible terrorist attack in London on Wednesday.According to BBC News, eyewitnesses said man was attacked in a streetFull Story >
One man is dead after two men attacked him in broad daylight with knives and meat cleavers. Full Story >
Tuesday, May 21 2013 7:20 PM EDT2013-05-21 23:20:28 GMT
The Cincinnati Tea Party announced that it will protest the IRS on Tuesday over the targeting of liberty groups regarding their tax status. The protest will begin at Fountain Square at noon on TuesdayFull Story >
The Cincinnati Tea Party protested the IRS on Tuesday over the targeting of liberty groups regarding their tax status. Full Story >
Monday, May 6 2013 1:29 PM EDT2013-05-06 17:29:07 GMT
A man charged with public indecency is expected to appear in court. Police say 36-year-old Jason Fletcher and Laura Oditt engaged in sexual conduct in a public place. The location is not named in courtFull Story >
A man charged with public indecency is expected to appear in court.Full Story >
Wednesday, May 22 2013 11:38 AM EDT2013-05-22 15:38:38 GMT
A Brown County man has been arrested after an undercover drug investigation. Jeremy Collett, 30, of Winchester, Ohio was arrested and charged with two counts of Trafficking Drugs prescription pills toFull Story >
A Brown County man has been arrested after an undercover drug investigation.Full Story >
Wednesday, May 22 2013 12:47 PM EDT2013-05-22 16:47:42 GMT
A Cincinnati man who previously admitted to participating in a conspiracy to distribute heroin was sentenced to 162 months in federal prison. U.S. District Judge David Bunning sentenced Lee Moore, 43,Full Story >
A Cincinnati man who previously admitted to participating in a conspiracy to distribute heroin was sentenced to 162 months in federal prison.Full Story >