NEW YORK, May 10, 2013 /PRNewswire/ -- Tripp Levy PLLC, a
leading national securities and shareholder rights law firm,
announces that it is investigating the acquisition of True Religion
Apparel, Inc. (NASDAQ: TRLG). True Religion announced that it
has entered into a definitive merger agreement with TowerBrook
Capital Partners L.P. ("TowerBrook") in a transaction valued at
approximately $835 million. Under the
terms of the merger agreement, TowerBrook will acquire all of the
outstanding shares of True Religion common stock for $32.00 per share in cash.
The investigation concerns whether the board of directors of
True Religion breached their fiduciary duties to shareholders by
not engaging in a full and fair auction for the company, while they
and the senior management of the company were allegedly negotiating
personal pay packages and other benefits for themselves in selling
the company to TowerBrook. Indeed, analysts have projected
that the true inherent value of the company is worth at least
$38 per share. Further, the
company has over $185 million of cash
worth at least $7.35 per share,
making the buyout price only $24.65
per share to TowerBrook.
If you are a shareholder of True Religion and would like
additional information as to how you can participate with other
shareholders in seeking a higher price for your shares, at no cost
or expense, please contact us toll free at 1-877-772-3975 or email
at contact@tripplevy.com
Tripp Levy PLLC is a national law firm that has recovered
millions of dollars for shareholders in similar actions around the
globe.
Tripp Levy PLLC
New York, New York
1-877-772-3975
contact@tripplevy.com
SOURCE Tripp Levy PLLC