NEW YORK, Aug. 25, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities firm headquartered in
New York City, is investigating
the Board of Directors of Steiner Leisure Ltd. ("Steiner" or the
"Company") (NasdaqGS:STNR) for potential breaches of fiduciary
duties in connection with the sale of the Company to Catterton for
approximately $834 million in a cash
transaction.
The Company's stockholders will only receive $65.00 for each share of Company common stock
they own. . The offer represents a negligible premium over the
Company's opening price per share of $63.80 on August 25,
2015 and is below at least one analyst price target of
$67.00 per share.
Click here for more information:
www.faruqilaw.com/STNR. There is no cost or obligation to
you.
The investigation focuses on whether Steiner's Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Steiner's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
If you own common stock in Steiner and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/STNR or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Attorney Advertising. (C) 2015 Faruqi & Faruqi, LLP.
The law firm responsible for this advertisement is Faruqi &
Faruqi, LLP (www.faruqilaw.com). Prior results do not
guarantee or predict a similar outcome with respect to any future
matter. We are happy to discuss your particular case.
Logo -
http://photos.prnewswire.com/prnh/20120119/MM38856LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/steiner-shareholder-notice-faruqi--faruqi-llp-announces-the-investigation-of-steiner-leisure-ltd-stnr-over-the-proposed-sale-of-the-company-to-catterton-300132888.html
SOURCE Faruqi & Faruqi, LLP