INVESTOR ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Elizabeth Arden, Inc. And Encourages Shareh...
20 Junio 2016 - 4:50PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Elizabeth Arden, Inc.
(NASDAQ: RDEN) (“Elizabeth Arden” or the “Company”) relating
to the proposed buyout of Elizabeth Arden by Revlon, Inc.
Under the terms of the agreement, Elizabeth Arden shareholders
are anticipated to receive $14.00 in cash for each share of
Elizabeth Arden common stock held. The firm’s investigation seeks
to determine, among other things, whether the Company’s Board of
Directors failed to satisfy their duties to 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. The transaction may
undervalue the Company and would result in no real gain or a loss
for many long-term Elizabeth Arden shareholders, especially given
that the Company’s 52-week high was $15.59.
If you currently own common stock of Elizabeth Arden and believe
that the proposed buyout price is too low, or you would like to
learn more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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version on businesswire.com: http://www.businesswire.com/news/home/20160620006459/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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