MILWAUKEE, June 18, 2018 /PRNewswire/ -- Ademi &
O'Reilly, LLP is investigating the Board of Directors of Perry
Ellis International (NASDAQ: PERY) for possible breaches of
fiduciary duty and other violations of Florida law in connection with the sale of
Perry Ellis to founder and former
chairman George Feldenkreis.
Click here to learn how to join the action:
http://ademilaw.com/case/perry-ellis or call Guri Ademi toll-free at 866-264-3995.
There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Perry
Ellis's long-term financial outlook is improving and yet
Perry Ellis shareholders will
receive only $27.50 in cash for each
share of Perry Ellis common stock
they own. George Feldenkreis
is well aware of Perry Ellis's
improving financial metrics and is purchasing Perry Ellis at a substantial discount. The
merger agreement unreasonably limits competing bids for
Perry Ellis by (i) prohibiting
solicitation of any further bids, and (ii) imposing a termination
penalty should Perry Ellis receive
and accept a superior bid. Perry
Ellis insiders, their affiliates and other major
shareholders own significant voting stock, and will receive
millions of dollars as part of change of control arrangements, and
therefore can unduly influence a sale of Perry Ellis. Our investigation centers on the
conduct of Perry Ellis's Board of
Directors, who have unanimously approved the transaction, and
whether they are (i) fulfilling their fiduciary duties to all
shareholders, and (ii) obtaining a fair and reasonable price for
Perry Ellis given its current
financial condition and prospects.
If you own common stock in Perry
Ellis and wish to obtain additional information, please
contact Guri Ademi either at
gademi@ademilaw.com or toll-free: 866-264-3995, or
http://ademilaw.com/case/perry-ellis.
We specialize in shareholder litigation involving buyouts,
mergers, and individual shareholder rights throughout the country.
For more information, please feel free to call us. Attorney
advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi & O'Reilly, LLP