An investigation on behalf of investors of True Religion Apparel, Inc. (NASDAQ:TRLG) in connection with a potential takeover was announced and NASDAQ:TRLG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/26/2013 -- An investigation on behalf of investors in True Religion Apparel, Inc. (NASDAQ:TRLG) shares was announced concerning whether a takeover of True Religion Apparel, Inc. would be unfair to investors in NASDAQ:TRLG shares.
Investors who purchased shares of the True Religion Apparel, Inc. (NASDAQ:TRLG) and currently hold any of those NASDAQ:TRLG shares 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 is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:TRLG investors.
In Octboer 2012True Religion Apparel, Inc. announced that after receiving indications of interest from third parties regarding a potential transaction with the Company, the Board of Directors has formed a Special Committee comprised of its non-management directors to explore and evaluate potential strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value.
Then on March 19, 2013, True Religion Apparel announced that Jeff Lubell has decided to step down as Chairman, Chief Executive Officer, Creative Director and employee of the Company. True Religion Apparel said that Mr. Lubell has agreed to serve as Chairman Emeritus and a creative consultant to the Company he founded and loves for a period of two years.
Some media outlets stated that this is an indicator for an imminent takeover.
Shares of True Religion Apparel, Inc. (NASDAQ:TRLG) rose on March 20, 2013 to as high as $27.99 per share.
True Religion Apparel, Inc. reported that its Total Revenue rose from $365.71 million in 2010 to $467.29 million in 2012 and that its Net Income increased from $43.50 million in 2010 to $46.02 million in 2012.
Shares of True Religion Apparel, Inc. (NASDAQ:TRLG) grew from as low as $8.18 per share in March 2009 to as high as $36.18 per share in February 2012. Currently NASDAQ:TRLG shares are at $26.00 per share.
However, at least on analyst has set the high target price for NASDAQ:TRLG shares at $38.00 per share.
Therefore the investigation a law firm concerns whether the True Religion Apparel Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in True Religion Apparel, Inc. (NASDAQ:TRLG) and purchased their Compuware Corporation shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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