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Arden Group acquisition attracts possible lawsuits

Compton, Calif. – Numerous law firms have launched investigations into the board of directors of Arden Group, Inc. to determine possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to the investment firm TPG.

The investigations concern whether the Arden Group board of directors breached their fiduciary duties to stockholders by failing to adequately shop the company before agreeing to enter into this transaction, and whether TPG is underpaying for Arden Group shares. At least eight law firms have announced investigations into Arden Group, parent of the 17-unit Gelson’s grocery store chain.