NEW YORK--(BUSINESS WIRE)-- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of The Warnaco Group, Inc. (“Warnaco” or the “Company”) (NYSE: WRC) (ISIN: US9343904028) concerning the proposed acquisition of Warnaco by PVH Corp. in a cash and stock transaction valued at approximately $2.9 billion.
The investigation concerns whether the Warnaco directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Warnaco shareholders would receive $51.75 in cash and 0.1822 of a share of PVH Corp. common stock for each share of Warnaco common stock, for a total of $68.43 per Warnaco common share. However, at least one analyst set a target price for Warnaco of $75.00 per share.
Warnaco shareholders seeking more information about this acquisition are advised to contact Samuel J. Adams at sjadams@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 300.
The Pomerantz Firm, with offices in New York, Chicago 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.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Samuel J. Adams, 212-661-1100 ext. 300
sjadams@pomlaw.com
Source: Pomerantz Grossman Hufford Dahlstrom & Gross LLP