NEW YORK, June 5, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Sears Hometown and Outlet Stores, Inc. ("SHOS" or the "Company") (NASDAQ: SHOS) in connection with the proposed acquisition of the Company by Transform Holdco LLC ("Transform"). Under the terms of the agreement, SHOS shareholders will receive $2.25 in cash for each SHOS they own.
If you are a shareholder of SHOS who wishes to discuss the investigation or have any questions about this notice and your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether SHOS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company announced significant improvements in its metrics in latest financial results for the fourth quarter and fiscal year 2018. It reported a $3.0 million decrease in net loss from $33.2 million to $30.2 million, and an improvement of $6.9 million in adjusted EBITDA from $12.4 million to $5.5 million.
Given these facts, WeissLaw is also investigating whether SHOS' Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
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@example.com
SOURCE WeissLaw LLP