NEW YORK, Sept. 13, 2018 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, No. 1:18-cv-01311, on behalf of shareholders of SUPERVALU, INC. ("SUPERVALU" or the "Company") SVU who have been harmed by SUPERVALU's and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with  the proposed merger of the Company with Jedi Merger Sub, Inc. ("Merger Sub").

On July 25, 2018, the Board caused the Company to enter into an agreement and plan of merger ("Proposed Transaction") under which SUPERVALU's stockholders will receive $32.50 in cash for each share of SUPERVALU common stock they hold (the "Merger Consideration").

The complaint alleges that the Preliminary Schedule 14A Proxy Statement (the "Proxy") filed with the Securities and Exchange Commission ("SEC") on August 21, 2018, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company's financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to SUPERVALU shareholders.

If you wish to obtain information concerning this action, you can do so by clicking here: www.faruqilaw.com/SVUnotice.

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Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud.  Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, Georgia, and Pennsylvania.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from the date of this notice.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:

Nadeem Faruqi, Esq.

James M. Wilson, Jr., Esq.

FARUQI & FARUQI, LLP

685 3rd Avenue, 26th Floor

New York, NY 10017

Telephone: (877) 247-4292 or (212) 983-9330

E-mail: nfaruqi@faruqilaw.com 

jwilson@faruqilaw.com

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SOURCE Faruqi & Faruqi, LLP