rue21, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Acquisition by Funds Advised by Apax Partners
May 24, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of rue21, inc. (“rue21” or the “Company”) (NASDAQ: RUE) breached its fiduciary duty to its shareholders in agreeing to sell rue21 to funds advised by Apax Partners.
Under the terms of the agreement, rue21 shareholders will receive $42.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to rue21 shareholders and the process by which the rue21 Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last ten years.