NEW YORK, June 18, 2018 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Perry Ellis
International, Inc. ("PERY" or the "Company") (NASDAQ: PERY) in
connection with the proposed acquisition of the Company by a newly
formed entity controlled by founder and former Executive Chairman
George Feldenkreis. Under the
terms of the acquisition agreement, PERY shareholders will receive
$27.50 in cash for each share they
own.
WeissLaw is investigating whether PERY's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $29.00, or $1.50
above the offer price. Additionally, PERY shares traded for
$28.54, or $1.04 above the per-share offer price, as
recently as May 31, 2018.
Finally, the Company recently announced positive financial
results. It reported total revenues of $255 million in the first quarter of fiscal year
2019, representing growth of 5.4% when compared to the $242 million reported in the same period of the
previous year.
Given these facts, WeissLaw is investigating whether PERY's
Board acted in the best interests of PERY's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own PERY shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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 clients and obtained important corporate governance
relief in many of 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 materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/perry-ellis-international-inc/
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SOURCE WeissLaw LLP