Law Offices of Howard G. Smith Announces Class Action on Behalf of Shareholders of Monterey Gourmet Foods, Inc.

Notice is hereby given that a class action lawsuit has been commenced on behalf of shareholders of Monterey Gourmet Foods, Inc. (“Monterrey” or the “Company”) (NASDAQ: 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 Company’s outstanding shares of common stock at a price of $2.70 per share in cash to Pulmuone USA, Inc. (“Pulmuone”), 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.

If you own shares of Monterrey, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.