SAN DIEGO, Nov. 7, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Blue Nile, Inc. (NASDAQ: NILE)
breached their fiduciary duties in connection with the proposed
sale of the Company to investor group Bain Capital Private Equity
and Bow Street LLC. Blue Nile operates as an online retailer of
diamonds and fine jewelry worldwide.
On November 7, 2016, Blue Nile
announced it had signed a definitive merger agreement with Bain
Capital and Bow Street. Under the terms of the agreement, Blue Nile
shareholders will receive $40.75 per
share in cash for each share held.
The investigation concerns whether the Blue Nile board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Blue Nile
shares of common stock. Nationally recognized Johnson &
Weaver is investigating whether the proposed deal price represents
adequate consideration.
If you are a shareholder of Blue Nile and believe the
proposed buyout price is too low and you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. 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.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP