NEW YORK, Dec. 19, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders nationwide, announces that it is investigating the acquisition of Frederick's of Hollywood Group Inc. (FOHL) ("Frederick's" or the "Company"). Frederick's announced that it has entered into a definitive merger agreement that provides for the acquisition of the Company by Harbinger Group Inc., and certain of the Company's other common and preferred shareholders (the "Consortium"), including the Company's CEO Thomas Lynch who entered into a new 3-year employment agreement as a result. The members of the Consortium as a group beneficially own approximately 88.6% of the Company's common stock.
Under the merger agreement, the Company's shareholders who are not members of the Consortium will receive $0.27 per share in cash upon completion of the transaction.
The investigation concerns whether William Harley, Thomas Lynch and other members of the senior management and board of directors of Frederick's breached their fiduciary duties to shareholders by not engaging in a full and fair process to insure shareholders received the maximum value for their shares, while, at the same time, seeking to benefit themselves for their own self-interests.
If you are a shareholder of Frederick's and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975
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