|By PR Newswire||
|December 20, 2013 07:29 AM EST||
NEW YORK, Dec. 20, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of The Jones Group ("Jones Group" or the "Company") (NYSE: JNY) concerning the proposed buyout of the Company by Sycamore Partners ("Sycamore") in an all-cash transaction. Under the terms of the proposed transaction, the Company's shareholders will receive $15.00 per share.
The investigation seeks to determine, among other things, whether the Company's Directors breached their fiduciary duties by failing to maximize shareholder value and by which the Company's Directors considered and approved the transaction. The investigation further seeks to determine wither the board acted for their own self-interests. Indeed analysts have projected that the true going forward inherent value of the Company is at least $18 per share. Further, the stock traded as high as $17.78 per share recently and the book value alone of the Company is worth $14 per share.
If you are a shareholder of Jones Group and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in mergers and takeovers, and has assisted in the recovery of millions of dollars for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC