NEW YORK, April 30, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of The Finish Line, Inc. ("FINL" or the "Company") (FINL) in connection with the proposed acquisition of the Company by Britain's JD Sports Fashion Plc ("JD").
On March 26, 2018, FINL announced a definitive merger agreement pursuant to which the JD would acquire all of the Company's outstanding shares for $13.50 in cash for each FINL share held.
WeissLaw is investigating whether FINL's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $15.00 per share, or $1.50 above the offer price. Additionally, FINL shares traded for $13.83 as recently as January, peaking in May of last year when they traded for $16.38, or nearly $3.00 above the offer price.
Moreover, the deal is a strategic transaction which offers JD immediate presence in the United States, increases its global footprint, and "represents an excellent opportunity for JD to establish its market leading multi-brand proposition in the world's largest athleisure market."
Finally, the Company recently announced positive financial results, reporting earnings per share of $0.59 in the fourth quarter of fiscal year 2018, beating its forecast by $0.02.
Given these facts, WeissLaw is investigating whether FINL's Board acted in the best interests of FINL's public shareholders to maximize shareholder value prior to entering into the agreement. If you own FINL shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/the-finish-line-inc-investigation/
SOURCE WeissLaw LLP