NEW YORK, Jan. 30, 2012 /PRNewswire/ -- The Law Office
of James C. Kelly is investigating
The Pep Boys – Manny, Moe & Jack (NYSE: PBY) for 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 shares of Pep Boys and want to discuss your legal
rights, contact The Law Office of James C.
Kelly. Please contact James C.
Kelly, Esq., by telephone at (888) 643-7517 or e-mail at
jkelly@jckellylaw.com.
The Law Office of James C. Kelly
is a New York City-based law firm
with significant experience representing investors in
merger-related shareholder class actions, shareholder derivative
actions, and securities fraud class actions. For more information
about the firm, please visit its website at
http://www.jckellylaw.com.
Attorney advertising. Prior results do not guarantee a similar
outcome.
SOURCE The Law Office of James C.
Kelly