As mentioned in the "J.Crew To Be Taken Private" post, J.Crew agreed to be taken private in a $3 billion deal.The following is an article over at Market Watch (click here for the article in its entirety):
Buyout of J.Crew Group, Inc. Investigated by Securities Lawyers at Goldfarb Branham LLPThis deal will likely go through. However, it will be interesting though to see what comes of this investigation.
By MarketWatch
November 29, 2010
Goldfarb Branham LLP is investigating whether the Board of Directors of J.Crew Group, Inc. breached their duties to shareholders by agreeing to sell the company to TPG Capital and Leonard Green & Partners, L.P. for $43.50 per share in cash. Concerned J.Crew investors are urged to contact securities lawyer Hamilton Lindley to ask about their rights and remedies due to this buyout at 877-583-2855 or hlindley@goldfarbbranham.com.
"Because the stock traded as high as $47 per share in of May 2010, and also because at least one analyst believes that the stock is worth $50 per share, we believe this deal is suspicious," said securities attorney Hamilton Lindley. "Our proposed class action lawsuit seeks to ensure that J.Crew shareholders receive full and fair information and the best price reasonably available in this buyout."
Goldfarb Branham LLP represents shareholders and whistleblowers nationwide and has been appointed by courts to serve as lead counsel on behalf of shareholders. The firm represents stockholders at no cost or liability to investors. For more information about this management led buyout, please contact the firm at 877-583-2855 or hlindley@goldfarbbranham.com.
What are your thoughts on this latest news? Are you a shareholder? If so, will you contact the law firm?
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