The Law Firm of Weiss & Lurie Investigates The Pep Boys—Manny, Moe & Jack
January 30 2012 - 6:17PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of The Pep Boys—Manny,
Moe & Jack (NYSE: PBY) arising from its agreement for the
Company to be acquired by The Gores Group for $15.00 per share.
Weiss & Lurie is investigating whether Pep Boys’ Board acted
in the best interests of its shareholders in approving the
transaction and whether the Board took steps to maximize the value
of Pep Boys stock, such as by providing a level playing field to
competing bidders or by considering alternative transactions. Prior
to the announcement of the deal, Pep Boys stock traded at a 52-week
high of $14.70 per share in February 2011, and at least two
analysts set the price target for Pep Boys stock above the offer
price, with the high target at $17.00 per share. Moreover, in
December 2011, Pep Boys announced that its “service business
started to rebound” in its third quarter ended October 29, 2011,
and that its net earnings rose 23% from the same period in
2010.
If you own Pep Boys shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun either by email at
info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (including
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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