The investigation concerns whether Hostess Brands and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Hostess Brands shareholders; (2) determine whether J.M. Smucker is underpaying for Hostess Brands; and (3) disclose all material information necessary for Hostess Brands shareholders to adequately assess and value the merger consideration. On behalf of Hostess Brands shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.