USA – Dean Foods Company and Horizon Organic Holding Company have announced that two shareholders have filed two class action complaints against them and individual members of its board of directors.

The complaints allege, amongst other things, that the money to be paid to shareholders of Horizon Organic in connection with the companies’ proposed takeover is unfair, and that the defendants breached their fiduciary duties to the Horizon Organic shareholders.

Tom McCloskey, chairman of Horizon Organic, defended the terms of the merger, and said: “The proposed acquisition of Horizon Organic by Dean Foods is in the best interests of the Horizon Organic shareholders.

We are very pleased with the consideration to be paid and are confident that it represents a full and fair price to Horizon Organic’s shareholders.”