SAN DIEGO, Nov. 7, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Blue Nile, Inc. (NASDAQ: NILE) breached their fiduciary duties in connection with the proposed sale of the Company to investor group Bain Capital Private Equity and Bow Street LLC. Blue Nile operates as an online retailer of diamonds and fine jewelry worldwide.
On November 7, 2016, Blue Nile announced it had signed a definitive merger agreement with Bain Capital and Bow Street. Under the terms of the agreement, Blue Nile shareholders will receive $40.75 per share in cash for each share held.
The investigation concerns whether the Blue Nile board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Blue Nile shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of Blue Nile and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/blue-nile-nile-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-blue-nile-inc-are-shareholders-receiving-a-fair-price-300358295.html
SOURCE Johnson & Weaver, LLP