Law Offices of Howard G. Smith said that a class action lawsuit has been commenced on behalf of shareholders of Monterey Gourmet Foods Inc. (PSTA) for breaches of fiduciary duty and other violations of state law in connection with an agreement by the company's Board of Directors to sell all of the its outstanding shares of common stock at a price of $2.70 per share in cash to Pulmuone USA, Inc., in a transaction valued at approximately $45.8 million. The action concerns the price to be paid by Pulmuone to Monterey shareholders and the process by which Monterey's Board of Directors is addressing the transaction.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.