Pomerantz Law Firm Investigates Claims on Behalf of Investors of Dreams Inc.
April 16 2012 - 5:24PM
Business Wire
Pomerantz Haudek Grossman & Gross LLP is investigating
claims on behalf of investors of Dreams Inc. (“Dreams” or the
“Company”) (NYSE Amex: DRJ) (ISIN: US2619832098) concerning the
proposed acquisition of Dreams by Fanatics, Inc. in a cash
transaction valued at approximately $167 million.
The investigation concerns whether the Dreams directors are
breaching their fiduciary duties by failing to adequately shop the
Company and maximize shareholder value. Under the terms of the
agreement, Dreams shareholders would receive $3.45 in cash per
share of Dreams common stock. However, at least one analyst has set
a target price of $5.00 per share for Dreams common stock.
Additionally, Dream’s President/CEO, Chairman and other
shareholders who collectively own approximately 35% of the Company
stock, have entered into voting and support agreements.
Dreams shareholders seeking more information about this
acquisition are advised to contact Rebecca Jarmon at
rjarmon@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York, Chicago, and
Washington, D.C., is acknowledged as one of the premier firms in
the areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L. Pomerantz, known as the dean of the
class action bar, the Pomerantz Firm pioneered the field of
securities class actions. Today, more than 70 years later, the
Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of
fiduciary duty, and corporate misconduct. The Firm has recovered
numerous multimillion-dollar damages awards on behalf of class
members. See www.pomerantzlaw.com.
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