Key Developments: True Religion Apparel Inc (TRLG.O)
31.60USD
21 May 2013
$0.05 (+0.14%)
$31.61
$31.57
$31.62
$31.57
277,024
473,685
$31.85
$20.22
Latest Key Developments (Source: Significant Developments)
Law Offices of Todd M. Garber Announces Investigation of True Religion Apparel Inc
The Law Offices of Todd M. Garber announced that it is investigating potential claims against the Board of Directors of True Religion Apparel Inc related to the proposed acquisition of the Company by TowerBrook Capital Partners LP. The transaction is valued at approximately $826 million, or $32 per share. This investigation concerns whether the Board of Directors of True Religion breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Full Article
Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By Board Of True Religion Apparel Inc In Connection With Sale Of Company To Towerbrook Capital Partners
Levi & Korsinsky announced that it is investigating the Board of Directors of True Religion Apparel Inc for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to TowerBrook Capital Partners LP. The investigation concerns whether the True Religion Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, whether TowerBrook Capital Partners LP is underpaying for True Religion stock, thus unlawfully harming True Religion shareholders. In particular, at least one analyst set a price target for True Religion stock at $38.00 per share. Full Article
True Religion Apparel Inc Agrees To Go Private In $835 Million Deal-Reuters
Reuters reported that True Religion Apparel Inc said it has agreed to be acquired by investment management firm TowerBrook Capital Partners LP in a deal worth about $835 million. TowerBrook will pay $32 per share in cash, representing a premium of about 9% to True Religion's closing price on May 9, 2013. The offer price is 52% above True Religion's closing share price on October 9, 2012, the day before the company announced that it was exploring strategic alternatives. The company's board unanimously approved the deal and recommended that shareholders vote in favor of the transaction, which is expected to close in the third quarter. Guggenheim Securities served as the financial adviser to True Religion, while Greenberg Traurig and Akin Gump Strauss Hauer & Feld were legal advisers. Deutsche Bank, Jefferies and UBS Investment Bank acted as financial advisers to TowerBrook, and Wachtell, Lipton, Rosen & Katz was the legal adviser. Full Article
Harwood Feffer LLP Announces Investigation of True Religion Apparel Inc
Harwood Feffer LLP is investigating potential claims against the Board of Directors of True Religion Apparel, Inc. concerning the proposed acquisition of the Company by TowerBrook Capital Partners LP (TowerBrook). On May 10, 2013, True Religion announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by TowerBrook. Under the terms of the agreement, True Religion stockholders will receive $32.00 in cash for each share owned. The investigation concerns whether the True Religion board of directors is fulfilling fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders. Full Article
Faruqi & Faruqi, LLP Is Seeking More Cash For Shareholders Of True Religion Apparel Inc
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, is investigating the Board of Directors of True Religion Apparel, Inc. for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to TowerBrook Capital Partners L.P. in a deal valued at approximately $835 million. Under the terms of the proposed transaction, True Religion's stockholders will receive $32.00 for each share of True Religion common stock they own. The investigation focuses on whether True Religion's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of True Religion's shareholders. Full Article
Law Office of Brodsky & Smith, LLC Announces Investigation of True Religion Apparel Inc
Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of True Religion Apparel Inc relating to the proposed acquisition by TowerBrook Capital Partners L.P. ("TowerBrook"). Full Article
Briscoe Law Firm and Powers Taylor, LLP Investigate Sale Of True Religion Apparel Inc To TowerBrook Capital
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP announced that they are investigating the sale of True Religion Apparel Inc to TowerBrook Capital Partners L.P. for shareholders. Under the terms of the proposed sale valued at approximately $835 million, True Religion shareholders will only receive $32.00 in cash for each share of True Religion stock owned, well below at least one analyst`s estimate of $38.00 per share. Full Article
Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by Board of True Religion Apparel Inc
Levi & Korsinsky announced that is investigating the Board of Directors of True Religion Apparel Inc (True Religion or the Company) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to TowerBrook Capital Partners LP. Under the terms of the transaction, True Religion shareholders will receive $32 for each share of True Religion stock they own. The investigation concerns whether the True Religion Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, whether TowerBrook Capital Partners LP is underpaying for True Religion stock, thus unlawfully harming True Religion shareholders. In particular, at least one analyst set a price target for True Religion stock at $38.00 per share. Full Article
Bernstein Liebhard LLP Announces Investigation Of True Religion Apparel Inc
Bernstein Liebhard LLP announced that it is investigating whether the Board of Directors of True Religion Apparel Inc breached its fiduciary duty to its shareholders in agreeing to sell True Religion to TowerBrook Capital Partners. The investigation is focused on the potential unfairness of the price to True Religion shareholders and the process by which the True Religion Board of Directors considered and approved the transaction. Full Article
Law Offices Of Howard G. Smith Announces Investigation Of True Religion Apparel Inc
Law Offices of Howard G. Smith announced that is investigating potential claims against the Board of Directors of True Religion Apparel, Inc. (True Religion or the Company) related to the proposed acquisition of the Company by TowerBrook Capital Partners LP. The transaction is valued at approximately $826 million, or $32 per share. This investigation concerns whether the Board of Directors of True Religion breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $20.57 on August 2, 2012 to $28.08 on April 25, 2013. Further, at least one analyst has set a target price for the Company`s stock at $38 per share. Full Article
Deals of the day -- mergers and acquisitions
May 10 - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
Earnings vs. 
Estimates
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