The Warnaco Group, Inc. Merger Litigation (NYSE: WRC)
Law Office of Brodsky & Smith, LLC Announces Investigation of The Warnaco Group, Inc.
BALA CYNWYD, November 1, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of The Warnaco Group, Inc. (“Warnaco” or the “Company”) (NYSE- WRC-News) relating to the proposed acquisition by PVH Corp. (“PVH”).
Under the terms of the transaction, Warnaco shareholders will receive only $51.75 in cash and 0.1822 shares of PVH common stock for each share on Warnaco common stock they own. The transaction values Warnaco at approximately $68.43 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Warnaco for not acting in the Company’s shareholders' best interests in connection with the sale process to PVH. The investigation seeks to determine if the price being paid is fair and if conflicts of interests played a role in the transaction. For example, Warnaco stock has traded as high as $71.32 as recently as November 1, 2012 and Warnaco CEO is expected to join PVH’s Board of Directors.
If you own shares of Warnaco stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org by calling toll free 877-LEGAL-90.
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