Press release from Business Wire
Saks Inc. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Sale of Saks to Hudson's Bay
Monday, July 29, 2013
Saks Inc. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Sale of Saks to Hudson's Bay10:29 EDT Monday, July 29, 2013
DALLAS (Business Wire) -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Saks, Inc. (“Saks”) (NYSE: SKS) to Hudson's Bay for shareholders. Under the terms of the proposed merger agreement, valued at approximately $2.9 billion, Saks shareholders will receive only $16 in cash for each share of Saks stock owned, well below at least one analyst's estimated value of $18.50.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607 or via email at firstname.lastname@example.org. There is no cost or fee to you.
The Saks sale investigation centers on whether shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values Saks stock, and whether Saks' board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. At least one analyst with Yahoo! Finance estimates that the true inherent value of Saks could be as high as $18.50 per share, well above the proposed sale price.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
Powers Taylor, LLP
Zach Groover, 877-728-9607