NEW YORK, May 23, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of rue21, inc. ("rue21" or the "Company") (NASDAQ: RUE) (ISIN: US7812951009) (CUSIP: 781295100) concerning the proposed acquisition of rue21 by Apax Partners, in a transaction valued at approximately $1.1 billion in cash.
The investigation concerns whether the rue21 directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, rue21 shareholders will be entitled to receive $42.00 per share in cash for each share of rue21 common stock. However the price to EBITDA and Net Income multiples are below comparable transactions' averages, and Apax Partners already controls 30% of rue21.
Rue21 shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc., Telanetix, Inc., Somerset Hills Bancorp, BioClinica Inc., Conceptus, Inc., and Gardner Denver, Inc.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:
Robert Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCEPomerantz Grossman Hufford Dahlstrom & Gross LLP
