Tripp Levy PLLC Investigates Acquisition of Pep Boys by The Gores Group
NEW YORK, Jan. 30, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, notifies investors of The Pep Boys – Manny, Moe & Jack (NYSE: PBY) of 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 Pep Boys common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact
Tripp Levy PLLC
125 East 82nd Street
New York, New York
Toll Free: 877-772-3975
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Tripp Levy PLLC