July 29, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of Saks Incorporated (“Saks” or the “Company”) (NYSE: SKS) breached its fiduciary duty to its shareholders in agreeing to sell Saks to Hudson’s Bay Company.
Under the terms of the agreement, Saks shareholders will receive $16.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Saks shareholders and the process by which the Saks 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.