Morgan & Morgan Announces Investigation of Heelys, Inc. (HLYS)
NEW YORK, Dec. 10, 2012 /PRNewswire/ -- Morgan & Morgan is investigating potential claims against the board of directors of Heelys, Inc. ("Heelys") (HLYS) concerning the proposed acquisition of Heelys by Sequential Brands Group, Inc. ("Sequential").
If you are a current shareholder of Heelys and are interested in learning more about our Heelys (HLYS) merger investigation, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at email@example.com.
On December 10, 2012, Heelys announced that it had entered into an agreement to be acquired by Sequential in a transaction valued at approximately $63 million. Under the terms of the agreement, Heelys' shareholders will receive $2.25 in cash for each share of Heelys stock owned. Heelys' board of directors has unanimously approved the proposed deal which is expected to close in the first half of 2013.
Our investigation concerns whether Heelys' board of directors has breached its fiduciary duties to act in the best interests of all of the Heelys shareholders and to take all necessary steps to ensure that Heelys' shareholders receive the maximum value readily available for their shares of Heelys common stock.
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
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Morgan & Morgan
Peter Safirstein, Esq.
Five Penn Plaza
New York, NY 10001
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