SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Belk, Inc. – BLKIA
NEW YORK, NY / CRWEPRESSRELEASE / August 24, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Belk, Inc. (“Belk” or the “Company”) (OTCMKTS: BLKIA) (ISIN: US07784H1095) (CUSIP: 07784H109) concerning the proposed acquisition of Belk by Sycamore Partners.
Belk shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Belk directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed acquisition, Belk shareholders will receive $68.00 per share in cash for each share of Belk common stock. However, the EBITDA, EDIT, Revenue, and Book Value multiples are below the averages of comparable transactions.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, 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 LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP 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.