|[December 20, 2013]
SHAREHOLDER ALERT: Investors in The Jones Group Inc. Are Encouraged To Contact Wolf Haldenstein
NEW YORK --(Business Wire)--
The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that
it is investigating the actions of the Board of Directors and senior
management of The Jones Group Inc. ("The Jones Group" or the "Company")
(NYSE:JNY) for potential breaches of fiduciary duties in connection with
the sale of the Company to affiliates of Sycamore Partners. Under the
terms of the merger agreement, affiliates of Sycamore Partners will
acquire The Jones Group for $15.00 per share in cash, or a total of
approximately $1.2 billion. The transaction is valued at approximately
$2.2 billion, including net debt. Upon completion of the transaction,
The Jones Group will become a privately held company.
The investigation concerns whether The Jones Group Board of Directors
breached their fiduciary duties to stockholders by failing to consider
all available strategic alternatives and conduct a suficient process.
The offer represents a mere 6% premium to the Company's closing stock
price on December 19, 2013, and a significant discount to the stock's
closing prices over the past few months, including its high of $17.69 on
August 5, 2013. At least one analyst assigned a $17.00 per share price
target for the Company, prior to the announcement.
Wolf Haldenstein has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
for more information about the firm. For further information on this
Please contact us if you are a stockholder of The Jones Group securities
who purchased shares before December 19, 2013, and wish to discuss this
matter. There is no cost to stockholders.
Gregory M. Nespole, Esq.
Wolf Haldenstein Adler Freeman & Herz LLP
New York, New York 10016
Phone (News - Alert) Numbers:
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