A lawsuit was filed for investors in shares of Barnes & Noble, Inc. (NYSE: BKS) in connection with the proposed takeover and Barnes & Noble, Inc. (NYSE: BKS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/30/2019 -- The Shareholders Foundation announced that a investor, who currently holds shares of Barnes & Noble, Inc. (NYSE: BKS), filed a lawsuit against the takeover of Barnes & Noble, Inc.
Investors who purchased shares of Barnes & Noble, Inc. (NYSE: BKS) and currently hold any of those NYSE: BKS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: BKS stockholders by agreeing to sell Barnes & Noble, Inc cheaply via an unfair process.
On June 7, 2019, New York based Barnes & Noble, Inc. (NYSE:BKS, "Barnes & Noble") announced that it has entered into a definitive agreement to be acquired by funds advised by Elliott Advisors (UK) Limited ("Elliott") for $6.50 per share in an all-cash transaction valued at approximately $683 million, including the assumption of debt.
However, plaintiff claims that the proposed consideration NYSE: BKS shareholders will receive is grossly inadequate and undervalues Barnes & Noble, Inc. In addition, the plaintiff alleges that the process is also unfair NYSE: BK stockholders
Shares of Barnes & Noble, Inc. (NYSE: BKS) traded in early 2019 as high as $7.81 per share.
On July 29, 2019, NYSE: BKS shares closed at $6.55 per share.
Those who are current investors in Barnes & Noble, Inc. (NYSE: BKS) 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
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.