SAN DIEGO, June 16, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Elizabeth Arden, Inc. (NASDAQ: RDEN) breached their fiduciary duties in connection with the proposed sale of the Company to Revlon, Inc. (NYSE: REV).
Elizabeth Arden is a beauty products company that manufactures, markets, distributes, and sells fragrance, cosmetics and skin care products worldwide.
On June 16, 2016, Elizabeth Arden announced it had signed a definitive merger agreement with Revlon. Under the terms of the agreement, Elizabeth Arden stockholders will receive $14.00 per share in cash.
The investigation concerns whether the Elizabeth Arden 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 Elizabeth Arden shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration. The 52 week high for Elizabeth Arden stock is $15.59.
If you are a shareholder of Elizabeth Arden and believe the proposed buyout price is too low or 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. If emailing, please include a phone number where you can be reached.
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
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SOURCE Johnson & Weaver, LLP