Morgan & Morgan Announces the Investigation of Saks Incorporated Buyout SKS
NEW YORK, Aug. 8, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential legal claims against the board of directors of Saks Incorporated ("Saks" or the "Company") (NYSE: SKS) relating to the proposed acquisition by Hudson's Bay Company.
Under the terms of the proposal, public shareholders of Saks will receive $16.00 per share in cash for each share of Saks they own.
Morgan & Morgan's investigation concerns whether Saks' Board of Directors breached its fiduciary duties to act in the best interests of Saks' shareholders and to take all necessary steps to ensure that Saks' shareholders receive the maximum value readily available for their shares of Saks common stock. According to Yahoo! Finance, at least one analyst has set a price target of $18.50.
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to class action lawsuits, the firm also practices in the areas of antitrust, personal injury, consumer protection, wage and hour, 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."
Attorney advertising. Prior results do not guarantee a similar outcome.
Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
SOURCE Morgan & Morgan
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