NEW YORK, Dec. 23, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Arden Group, Inc. ("Arden" or the "Company") (NASDAQ: ARDNA) (ISIN: US0397621097) (CUSIP: 039762109) concerning the proposed acquisition of Arden by TPG Capital.
The investigation concerns whether the Arden directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Arden shareholders will receive $126.50 per share. However, the Price to EBIT multiple is below the average of comparable transactions, and the deal offer price of $126.50 per share, is below the Company's 52-week high of $136.99 per share.
Arden shareholders seeking more information about this acquisition are advised to contact Anna Karin F. Manalaysay at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 283.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Anna Karin F. Manalaysay
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 283
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP