An investigation on behalf of investors of Perry Ellis International, Inc. (NASDAQ: PERY) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 06/28/2018 -- An investigation was announced for investors, who currently hold shares of Perry Ellis International, Inc. (NASDAQ: PERY), concerning whether the takeover of Perry Ellis International, Inc. . is unfair to NASDAQ: PERY stockholders.
Investors who purchased shares of Perry Ellis International, Inc. (NASDAQ: PERY) and currently hold any of those NASDAQ: PERY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Perry Ellis International, Inc. breached their fiduciary duties owed to NASDAQ: PERY investors in connection with the proposed acquisition.
Miami, FL based Perry Ellis International, Inc. designs, sources, markets, and licenses apparel products, accessories, and fragrances.
On June 16, 2018, Perry Ellis International (NASDAQ:PERY) announced it has entered into a merger agreement under which a newly formed entity controlled by George Feldenkreis, Perry Ellis' founder and member of the Company's Board of Directors, will acquire all of the outstanding common shares of Perry Ellisnot already beneficially owned by the Feldenkreis family for $27.50 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ: PERY shares at $29.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: PERY stockholders. More specifically, the investigation concerns whether the Perry Ellis International 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 27, 2018, NASDAQ: PERY shares closed at $27.19 per share.
Those who are current investors in Perry Ellis International, Inc. (NASDAQ: PERY) 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