An investigation on behalf of investors of NASDAQ:RDEN in connection with the proposed takeover of Elizabeth Arden, Inc. was announced and NASDAQ:RDEN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/22/2016 -- The takeover of Elizabeth Arden, Inc is under investigation over possible wrongdoing. The investigation was announced for investors, who currently hold NASDAQ:RDEN shares, over the buyout of Elizabeth Arden, Inc. by Revlon for $14.00 per share.
Investors who purchased shares of Elizabeth Arden, Inc. (NASDAQ:RDEN) and currently hold any of those NASDAQ:RDEN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Elizabeth Arden directors breached their fiduciary duties owed to NASDAQ:RDEN investors in connection with the proposed acquisition.
On June 16, 2016, Elizabeth Arden, Inc. announced it had signed a definitive merger agreement with Revlon. Under the terms of the agreement, Elizabeth Arden, Inc. (NASDAQ:RDEN) stockholders will receive $14.00 per share in cash.
However, the investigation concerns whether the offer is unfair to NASDAQ:RDEN stockholders. More specifically, the investigation concerns whether the Elizabeth Arden Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On June 21, 2016, NASDAQ:RDEN shares closed at $13.87 per share.
Those who are current investors in Elizabeth Arden, Inc. shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com