|By PR Newswire||
|February 19, 2014 05:35 PM EST||
NEW YORK, Feb. 19, 2014 /PRNewswire/ -- Morgan & Morgan announces that it is investigating the Board of Directors of Zale Corporation ("Zale" or the "Company") (NYSE: ZLC) for potential breaches of fiduciary duties in connection with the sale of the Company to Signet for approximately $690 million. The Company's stockholders will receive $21 per share for each share of Zale common stock they own.
Our investigation concerns possible breaches of fiduciary duty and other violations of law by Zale's Board of Directors for not acting in the best interest of the Company's shareholders in connection with the sale process.
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Morgan & Morgan
Peter Safirstein, Esq.
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New York, NY 10036
SOURCE Morgan & Morgan