Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of The Jones Group Inc. to Sycamor...
December 19 2013 - 8:28PM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of The
Jones Group, Inc. (NYSE: JNY) breached their fiduciary duties in
connection with the planned sale of the Company to Sycamore
Partners. The Jones Group engages in the design, marketing, and
wholesale of apparel, footwear, jeanswear, jewelry, and handbags.
As of December 31, 2012, it operated 185 specialty retail stores
and 409 outlet stores.
On December 19, 2013, The Jones Group and Sycamore Partners
announced that they had entered into a definitive agreement. Under
terms of the transaction, The Jones Group shareholders will receive
$15.00 in cash for each share owned, or approximately $1.2 billion.
In August 2013 the stock traded as high as $17.78.
The investigation concerns whether The Jones Group’s board
members failed to satisfy their duties to the Company’s
shareholders, including whether the board adequately pursued
alternatives to the acquisition and whether the board obtained the
best price possible for the Company’s shares of common stock.
If you are a Jones Group shareholder and would like additional
information concerning your legal rights, please contact lead
analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California and New York. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext.
118jimb@johnsonandweaver.com
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