Key Developments: Annie's Inc (BNNY.N)

BNNY.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

General Mills Inc to acquire Annie's
Monday, 8 Sep 2014 05:00pm EDT 

General Mills Inc:Enters into a definitive agreement to acquire Annie's, Inc., U.S. producer of branded organic and natural food products.Under terms of the agreement, General Mills will acquire Annie's for $46.00 per share in cash.Proposed transaction has aggregate value of about $820 mln.General Mills intends to fund acquisition through available credit.  Full Article

Annie's Inc reaffirms FY 2015 revenue and EPS guidance
Thursday, 7 Aug 2014 04:14pm EDT 

Annie's Inc:Reaffirmed FY 2015 revenue and EPS guidance.Expects FY 2015 adjusted net sales growth of 18 pct to 20 pct.Expects FY 2015 adjusted diluted EPS to be in the range of $0.88 to $0.95.Reported revenue of $203.03 mln in FY 2014.FY 2015 revenue of $239.5 mln and EPS of $0.90 - Thomson Reuters I/B/E/S.  Full Article

Annie's Inc announces changes in registrant's certifying accountant - Form 8-K
Monday, 14 Jul 2014 08:14am EDT 

Annie's Inc:Says on July 10, the Audit Committee of the company approved the appointment of KPMG LLP as the company's new independent registered public accounting firm, effective immediately.  Full Article

Annie's, Inc announces filing of a Class Action
Monday, 30 Jun 2014 09:28pm EDT 

Annie's, Inc:Says Pomerantz LLP has filed a class action lawsuit against Annie's, Inc and certain of its officers.The class action, filed in United States District Court, Northern District of California.Says the class consisting of all persons or entities who purchased or otherwise acquired Annie's securities between Aug. 8, 2013 and June 3, 2014 both dates inclusive.This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.  Full Article

Ryan & Maniskas, LLP announces class action lawsuit against Annie's, Inc
Monday, 23 Jun 2014 06:35pm EDT 

Annie's, Inc:Says that Ryan & Maniskas, LLP announces a class action lawsuit has been filed in United States District Court for the Northern District of California against Annie's, Inc. and certain of its officers.Says the class action is on behalf of all persons or entities who purchased or otherwise acquired Annie's securities between Aug. 8, 2013 and June 3, 2014.  Full Article

Rosen Law Firm, P.A Announces Filing of Class Action Against Annie's Inc
Friday, 20 Jun 2014 03:39pm EDT 

Rosen Law Firm, P.A:Says class action lawsuit has filed on behalf of all purchasers of Annie's, Inc. securities between Aug. 08, 2013 and June 3, 2014, seeking to recover funds for investors under the federal securities laws.  Full Article

Morgan & Morgan announces filing of class action against Annie's, Inc
Friday, 13 Jun 2014 09:58am EDT 

Morgan & Morgan:Says that class action lawsuit has been filed in United States District Court for Northern District of California against Annie's, Inc. (Annie's or Company) and certain of its officers.Class action is on behalf of all persons or entities who purchased or otherwise acquired Annie's securities between Aug. 08, 2013 and June 03, 2014 (Class Period).  Full Article

Holzer & Holzer, LLC announces class action filed on behalf of investors in Annie's, Inc
Thursday, 12 Jun 2014 04:46pm EDT 

Holzer & Holzer, LLC:Says that class action lawsuit has been filed in United States District Court for Northern District of California on behalf of investors who purchased Annie's, Inc.Complaint alleges that during relevant time period Annie's lacked adequate internal controls and misstated its financial results.On June 2, 2014, Company announced that it identified material weaknesses in its internal controls over financial reporting.On June 03, 2014, Annie's further announced that PricewaterhouseCoopers was resigning.  Full Article

Pomerantz LLP announces filing of class action against Annie's Inc and certain officers
Thursday, 12 Jun 2014 01:41pm EDT 

Pomerantz LLP:Files class action lawsuit against Annie's, Inc. and certain of its officers.Class action, filed in United States District Court, Northern District of California, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Annie's securities between Aug. 8, 2013 and June 3, 2014, both dates inclusive (Class Period.Complaint alleges that throughout the class period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects.Says the company's historical methodology for estimating certain trade allowances did not include all related trade promotion costs subsequent to period end.Says the company's accounting for contract manufacturing did not sufficiently evaluate the valuation and accuracy of all contract manufacturing receivables and payables.Says as a result, the company's financial results were misstated.Says the company lacked adequate internal and financial controls.Says as a result of the foregoing, the company's financial statements were materially false and misleading at all relevant times.  Full Article

Glancy Binkow & Goldberg LLP files class action lawsuit against Annie's Inc
Wednesday, 11 Jun 2014 08:22pm EDT 

Glancy Binkow & Goldberg LLP:Files class action lawsuit in United States District Court for Northern District of California on behalf of a class comprising all purchasers of Annie's, Inc. securities between August 8, 2013 and June 3, 2014, inclusive (the class period).Complaint alleges that defendants misrepresented and/or failed to disclose material adverse facts about the company's operations and financial performance, including that.Company's historical methodology for estimating certain trade allowances did not include all related trade promotion costs.Company's controls over accounting for contract manufacturing did not sufficiently evaluate the valuation and accuracy of all contract manufacturing receivables and payables.Company had a material weakness in its ability to detect misstatements as a result of its insufficient controls.As a result of its inadequate internal and financial controls, the company's financial statements were materially false and misleading at all relevant times.  Full Article

Fitch: No Ratings Impact from General Mills' Bolt-on Acquisition of Annie's, Inc.

(The following statement was released by the rating agency) CHICAGO, September 09 (Fitch) The ratings of General Mills, Inc. and its subsidiaries are not impacted by the company's definitive agreement to acquire Annie's, Inc. (NYSE: BNNY), according to Fitch Ratings. The $820 million deal will be debt financed and is expected to close in calendar 2014. The transaction value is approximately 4x Annie's fiscal 2014 annual sales of $204 million, or nearly 30x EBITDA. The $46 per share price is

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