Energy News / Shareholders Foundation, Inc.

NASDAQ:PERY Shareholder Notice: Lawsuit Against Acquisition by Perry Ellis International, Inc

Via: ReleaseWire

Updated 12:15 PM CDT, Wed, October 03,2018

A lawsuit was filed for investors in shares of Perry Ellis International, Inc. (NASDAQ: PERY) in connection with the proposed takeover.

San Diego, CA -- (SBWIRE) -- 10/03/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Perry Ellis International, Inc. (NASDAQ: PERY), filed a lawsuit against the takeover of Perry Ellis International, Inc.

Investors who purchased shares of Perry Ellis International, Inc. (NASDAQ: PERY) and currently hold any of those NASDAQ: PERY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: PERY stockholders by agreeing to sell of Perry Ellis International, Inc. cheaply via an unfair process.

Miami, FL based Perry Ellis International, Inc. designs, sources, markets, and licenses apparel products, accessories, and fragrances.

On June 16, 2018, Perry Ellis International (NASDAQ:PERY) announced it has entered into a merger agreement under which a newly formed entity controlled by George Feldenkreis, Perry Ellis' founder and member of the Company's Board of Directors, will acquire all of the outstanding common shares of Perry Ellisnot already beneficially owned by the Feldenkreis family for $27.50 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ:PERY shareholders will receive is grossly inadequate and undervalues Perry Ellis International, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: PERY shares at $29.00 per share. Perry Ellis International, Inc. reported that its Total Revenue rose from $861.08 million for the 12 months period that ended on January 28, 2017 to $874.85 million for the 12 months period that ended on February 3, 2018 and that its Net Income over those respective time periods increased from $14.51 million to $56.65 million. In addition, the plaintiff alleges that the process is also unfair NASDAQ:PERY stockholders.

Shares of Perry Ellis International, Inc. (NASDAQ: PERY) reached as high as $28.50 per share in late 2016.

Those who are current investors in Perry Ellis International, Inc. (NASDAQ: PERY) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqpery-shareholder-notice-lawsuit-against-acquisition-by-perry-ellis-international-inc-1057544.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com