BUYOUT OF RUE21 - LAW FIRM ANNOUNCES INVESTIGATION OF BUYOUT
Tripp Levy PLLC is investigating the Board of Directors of rue21 Inc. ("rue21" or the "Company") (RUE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to the private equity firm Apax Partners.
Under the terms of the transaction, Apax Partners will pay $42.00 for each share of rue21 stock it does not currently own; the private equity firm currently owns a 30% stake in rue21. The transaction has a total approximate value of $1.1 billion. The investigation concerns whether the rue21 Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether Apax Partners is underpaying for rue21 stock, thus unlawfully harming rue21 stockholders.
If you own common stock in rue21 and wish to obtain additional information, please contact us at 1-877-772-3975 or email at contact @ tripplevy