December 30, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of Arden Group, Inc. (“Arden Group” or the “Company”) (NASDAQ: ARDNA) breached its fiduciary duty to its shareholders in agreeing to sell Arden Group to TPG.
Under the terms of the agreement, Arden Group shareholders will receive $126.50 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Arden Group shareholders and the process by which the Arden Group 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 eleven years.