Rigrodsky & Long, P.A. Announces Investigation Of Saks Incorporated Buyout
Hudson’s Bay offers only $16.00 per share to Saks shareholders
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.:
- Do you own shares of Saks Incorporated (NYSE: SKS )?
- Did you purchase any of your shares prior to July 29, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Saks Incorporated (“Saks” or the “Company”) (NYSE: SKS) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Hudson’s Bay Company (“Hudson’s Bay”) (TSX: HBC.TO), in a transaction valued at approximately $2.9 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/saks-incorporated-sks.
Under the terms of the agreement, public shareholders of Saks will receive $16.00 per share in cash for each share of Saks they own.
The investigation concerns whether Saks’s board of directors failed to adequately shop the Company and obtain the best possible value for Saks’s shareholders before entering into an agreement with Hudson’s Bay. According to Yahoo! Finance, at least one analyst has set a price target for Saks stock at $18.50 per share.
If you own the common stock of Saks and purchased your shares before July 29, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/saks-incorporated-sks.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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