Dreams, Inc. Investor Alert: The Briscoe Law Firm & Powers Taylor, LLP Investigate the Acquisition of Dreams, Inc. by Fanatic...
April 16 2012 - 11:24AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Dreams, Inc. (“Dreams” or “DRJ”)
(AMEX: DRJ) to Fanatics, Inc. for shareholders. Under the proposed
transaction, Dreams shareholders will receive only $3.45 in cash
for each share of Dreams stock owned, which is well below its
estimated value $5.00 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves an all cash
transaction with aggregate transaction value of approximately $183
million, including debt. The deal is expected to close in the third
quarter of 2012.
The investigation centers on whether Dreams shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues Dreams stock, and whether
Dreams' board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. According to Yahoo!
Finance, at least one analyst has stated that the true inherent
value of Dreams may be as high as $5.00 per share, far higher than
the current price being offered to shareholders. According to
shareholder rights attorney Willie Briscoe, “Based on the lack of a
significant premium to Dreams shareholders and the fact that the
sale price is well below the target price set by analysts, the
firms believe that the buyout price may not be fair to Dreams
shareholders. Our proposed shareholder lawsuit seeks to obtain the
highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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