An investigation on behalf of investors of The Jones Group Inc. (NYSE:JNY) in connection with the proposed takeover was announced and NYSE:JNY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/23/2013 -- An investigation on behalf of investors, who currently hold shares of The Jones Group Inc. (NYSE:JNY) shares, was announced concerning whether the takeover of The Jones Group Inc. by Sycamore Partners for $15.00 per share is unfair to NYSE:JNY stockholders.
Investors who purchased shares of The Jones Group Inc. and currently hold any of those NYSE:JNY shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of The Jones Group Inc. breached their fiduciary duties owed to NYSE:JNY investors in connection with the proposed acquisition.
On December 19, 2013, The Jones Group Inc. and Sycamore Partners announced that they have entered into a an agreement pursuant to which affiliates of Sycamore Partners will acquire The Jones Group for $15.00 per share in cash. The transaction is valued at approximately $2.2 billion, including net debt.
However, given that NYSE:JNY shares traded as recently as August 2013 as high as $17.69 per share, the investigation concerns whether the $15.00-offer is unfair to NYSE:JNY stockholders. More specifically, the investigation concerns whether the Jones Group 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.
The Jones Group Inc. reported that its annual Total Revenue rose from over $3.32 billion in 2009 to over $3.78 billion in 2012.
Shares of the Jones Group Inc. grew from $9.08 per share in early 2012 to as high as $17.69 per share in August 2013.
On December 20, 2013, NYSE:JNY shares closed at $14.87 per share.
Those who are current investors in The Jones Group Inc. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)