Press release from Business Wire
Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Maidenform, Inc. Over the Proposed Sale of the Company to Hanesbrands Inc.
<p> <i>Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of</i> <i>Maidenform, Inc.</i> </p>
Wednesday, July 24, 2013
Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Maidenform, Inc. Over the Proposed Sale of the Company to Hanesbrands Inc.19:00 EDT Wednesday, July 24, 2013
NEW YORK (Business Wire) -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Maidenform, Inc. (“Maidenform” or the “Company”) (NYSE: MFB) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Hanesbrands Inc. (NYSE: HBI) in a deal valued at approximately $575 million. Under the terms of the proposed transaction, Maidenform's stockholders will receive $23.50 in cash for each share of Maidenform common stock they own.
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The investigation focuses on whether Maidenform's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Maidenform's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Maidenform and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/MFB or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330