SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary
May 24th 2013 11:08AM
Updated May 24th 2013 11:16AM
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of rue21 Inc. in Connection with the Sale of the Company to Apax Partners
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating the Board of Directors of rue21 Inc. ("rue21" or the "Company") (NAS: RUE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to the private equity firm Apax Partners.
Click here to learn more about the investigation http://zlk.9nl.com/rue21-rue/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Apax Partners will pay $42.00 for each share of rue21 stock it does not currently own; the private equity firm currently owns a 30% stake in rue21. The transaction has a total approximate value of $1.1 billion. The investigation concerns whether the rue21 Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether Apax Partners is underpaying for rue21stock, thus unlawfully harming rue21 stockholders.
If you own common stock in rue21 and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/rue21-rue/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq. / Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America Pennsylvania
The article SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of rue21 Inc. in Connection with the Sale of the Company to Apax Partners originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.