SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of rue21 Inc. in Connection with the Sale of the Company to Apax Partners
NEW YORK, May 26, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of rue21 Inc. ("rue21" or the "Company") (Nasdaq: RUE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to the private equity firm Apax Partners.
Click here to learn more about the investigation http://zlk.9nl.com/rue21-rue/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Apax Partners will pay $42.00 for each share of rue21 stock it does not currently own; the private equity firm currently owns a 30% stake in rue21. The transaction has a total approximate value of $1.1 billion. The investigation concerns whether the rue21 Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether Apax Partners is underpaying for rue21 stock, thus unlawfully harming rue21 stockholders.
If you own common stock in rue21 and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/rue21-rue/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP