Press release from Business Wire
Law Firm Brower Piven Announces Investigation of JAKKS Pacific, Inc.
Wednesday, September 14, 2011
Law Firm Brower Piven Announces Investigation of JAKKS Pacific, Inc.17:42 EDT Wednesday, September 14, 2011 STEVENSON, Md. (Business Wire) -- The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of JAKKS Pacific, Inc. (“JAKKS”) (NASDAQ: JAKK) and other violations of state law by the board of directors of JAKKS relating to the proposed acquisition of the company by certain funds and accounts managed by Oaktree Capital Management, L.P. (“Oaktree”). The firm's investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value. On September 14, 2011, Oaktree announced that it had made a proposal to acquire all outstanding shares of JAKKS common stock for $20.00 per share in cash. This represents a total equity value of approximately $670 million on a fully diluted basis. Oaktree's press release states that the offer represents a 25% premium over JAKKS's closing share price on September 13, 2011. According to Oaktree, it made its proposal public after the JAKKS Board's continued refusal to engage in meaningful discussions about maximizing shareholder value at JAKKS. If you currently own shares of JAKKS and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years. Brower Piven, A Professional CorporationStevenson, MarylandCharles J. Piven, firstname.lastname@example.org