Tripp Levy PLLC Investigates Acquisition of Pep Boys by The Gores Group
January 30 2012 - 8:32AM
PR Newswire (US)
NEW YORK, Jan. 30, 2012 /PRNewswire/ -- Tripp Levy PLLC, a
leading national securities law firm, notifies investors of The Pep
Boys – Manny, Moe & Jack (NYSE: PBY) of potential claims of
breaches of fiduciary duty and other violations of state law
against the board of directors of Pep Boys in connection with the
sale of the Company to The Gores Group. It was announced that
Pep Boys has entered into a definitive merger agreement under which
it will be acquired by The Gores Group. Under the terms of
the merger agreement, The Gores Group will acquire all the
outstanding common shares of Pep Boys for $15.00 per share in cash.
The investigation concerns whether the Pep Boys Board of
Directors breached their fiduciary duties to stockholders by
failing to adequately shop the company before entering into this
transaction and whether Gores Group is underpaying for Pep Boys
shares, thus unlawfully harming stockholders. Indeed,
analysts have projected that the true going forward inherent value
of the company is worth at least $17
per share.
If you own Pep Boys common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact
Tripp Levy
Tripp Levy PLLC
125 East 82nd Street
9th Floor
New York, New York
Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in mergers
& acquisitions, takeover litigation, shareholder rights, and
corporate governance matters in state and federal courts throughout
the United States. Attorney
advertising. Prior results do not guarantee a similar outcome.
SOURCE Tripp Levy PLLC
Copyright 2012 PR Newswire
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