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
SOURCE Pomerantz Grossman Hufford
Dahlstrom & Gross LLP