|[December 19, 2013]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of The Jones Group Inc. to Sycamore Partners
SAN DIEGO --(Business Wire)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the board of directors of The Jones Group, Inc.
(NYSE: JNY) breached their fiduciary duties in connection with the
planned sale of the Company to Sycamore Partners. The Jones Group
engages in the design, marketing, and wholesale of apparel, footwear,
jeanswear, jewelry, and handbags. As of December 31, 2012, it operated
185 specialty retail stores and 409 outlet stores.
On December 19, 2013, The Jones Group and Sycamore Partners announced
that they had entered into a definitive agreement. Under terms of the
transaction, The Jones Group shareholders will receive $15.00 in cash
for each share owned, or approximately $.2 billion. In August 2013
the stock traded as high as $17.78.
The investigation concerns whether The Jones Group's board members
failed to satisfy their duties to the Company's shareholders, including
whether the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for the Company's
shares of common stock.
If you are a Jones Group shareholder and would like additional
information concerning your legal rights, please contact lead analyst
Jim Baker (firstname.lastname@example.org)
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. The firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the firm
and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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