San Diego, CA -- (SBWIRE) -- 02/28/2012 -- The Shareholders Foundation announces that an investigation for investors Prestige Brands Holdings, Inc. (NYSE:PBH) shares was initiated concerning whether the offer by Genomma Lab Internacional, S.A.B. de C.V.to acquire Prestige Brands Holdings for $16.60 per NYSE:PBH shares and the buyout process are unfair to investors in NYSE:PBH) shares.
Investors who are current investors in Prestige Brands Holdings, Inc. (NYSE:PBH) and purchased NYSE:PBH shares prior to February 21, 2012, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether Prestige Brands Holdings, certain officers and directors, and/or others breached their fiduciary duties owed to Prestige Brands Holdings (NYSE:PBH) investors in connection with the proposed acquisition.
On February, 21, 2012, Prestige Brands Holdings, Inc. (NYSE – PBH) confirmed that it is in receipt of a non-binding letter from Genomma Lab Internacional, S.A.B. de C.V. proposing to acquire all outstanding common shares of Prestige Brands at a price of $16.60 per share in cash.
Shares of Prestige Brands Holdings, Inc. (NYSE:PBH) jumped from $13.52 on Friday to as high as $16.76 on Tuesday, February 21, 2012, thus slightly above the current offer of $16.60 per share.
Additionally, at least one analyst has set the high target price for NYSE:PBH stocks at $20 per share, also well above the current offer.
Therefore the investigation for NYSE:PBH investors concerns whether the Prestige Brands Board of Directors undertakes an adequate sales process and in particular breach their fiduciary duties to Prestige Brands Holdings, Inc. (NYSE:PBH) shareholders by failing to adequately shop the Company before entering into this transaction.
Those who are current investors in Prestige Brands Holdings, Inc. (NYSE:PBH) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego