NEW YORK, Jan. 30, 2012 /PRNewswire/ -- The Law Office of James C. Kelly is investigating The Pep Boys – Manny, Moe & Jack (NYSE: PBY) for potential claims of breaches of fiduciary duty and other violations of state law against the board of directors of Pep Boys in connection with the sale of the Company to The Gores Group. It was announced that Pep Boys has entered into a definitive merger agreement under which it will be acquired by The Gores Group. Under the terms of the merger agreement, The Gores Group will acquire all the outstanding common shares of Pep Boys for $15.00 per share in cash.
The investigation concerns whether the Pep Boys Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the company before entering into this transaction and whether Gores Group is underpaying for Pep Boys shares, thus unlawfully harming stockholders. Indeed, analysts have projected that the true going forward inherent value of the company is worth at least $17 per share.
If you own shares of Pep Boys and want to discuss your legal rights, contact The Law Office of James C. Kelly. Please contact James C. Kelly, Esq., by telephone at (888) 643-7517 or e-mail at firstname.lastname@example.org.
The Law Office of James C. Kelly is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit its website at http://www.jckellylaw.com.
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SOURCE The Law Office of James C. Kelly