In March, Safeway grocery stores announced that it was going to be acquired by the private equity firm Cerberus Capital Management L.P. Cerberus, which already owns several grocery store chains, including Albertsons, Acme and Jewel-Osco, agreed to buy Safeway for more than $7 billion. The deal would allow Cerberus to control almost 25,000 grocery stores across the country.

As a result of this announcement, a class action lawsuit on behalf of the shareholders of Safeway was filed, claiming that Safeway “omitted and/or misrepresented information” to the detriment of its shareholders.