Bernstein Liebhard LLP Announces Investigation of BJ’s Wholesale Club, Inc.
June 29, 2011
Bernstein Liebhard LLP is investigating whether the Board of Directors of BJ’s Wholesale Club, Inc. (“BJ’s” or the “Company”) (NYSE: BJ) breached its fiduciary duty to its shareholders in agreeing to sell BJ’s to affiliates of Leonard Green & Partners, L.P. (“LGP”) and funds advised by CVC Capital Partners (“CVC”).
Under the terms of the agreement, BJ’s shareholders will receive $51.25 in cash for each share they own. The investigation is focused on the potential unfairness of the price to BJ’s shareholders and the process by which the BJ’s Board of Directors considered and approved the transaction.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last eight years.