An investigation for investors in NASDAQ:RDEN shares was announced concerning whether the takeover of Pembroke Pines, FL based Elizabeth Arden, Inc. by Revlon for $14.00 per share.
Investors who purchased shares of Elizabeth Arden, Inc. (NASDAQ:RDEN) and currently hold any of those NASDAQ:RDEN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Elizabeth Arden, Inc. breached their fiduciary duties owed to NASDAQ:RDEN investors in connection with the proposed acquisition.
On June 16, 2016, global beauty products company Elizabeth Arden, Inc. announced it had signed a definitive merger agreement with Revlon. Under the terms of the agreement, Elizabeth Arden, Inc. (NASDAQ:RDEN) stockholders will receive $14.00 per share in cash.
However, the investigation concerns whether the offer is unfair to Elizabeth Arden, Inc. (NASDAQ:RDEN stockholders. More specifically, the investigation concerns whether the Elizabeth Arden, Inc. (NASDAQ:RDEN Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
On June 30, 2016, NASDAQ:RDEN shares closed at $13.76 per share.
Those who are current investors in NASDAQ:RDEN 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