STEVENSON, Md., Aug. 28, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Steiner Leisure Ltd. ("Steiner" or the "Company") (NasdaqGS: STNR)
relating to the proposed buyout of the Company by Catterton for
approximately $834 million.
Under the terms of the transaction, Steiner shareholders are
anticipated to receive $65.00 in cash
for each share of Steiner common stock held. According to
Yahoo! Finance, at least one Wall Street analyst has issued
a price target for Steiner stock at $67.00 per share.
The firm's investigation seeks to determine, among other things,
whether the Company's Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company's shares of common
stock.
If you currently own common stock of Steiner and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven / Brower Piven, A
Professional Corporation
1925 Old Valley Road / Stevenson,
Maryland 21153
Telephone: 410-415-6616 / hoffman@browerpiven.com
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visit:http://www.prnewswire.com/news-releases/shareholder-alert-brower-piven-commences-an-investigation-into-the-proposed-sale-of-steiner-leisure-ltd-and-encourages-investors-to-contact-the-firm-for-additional-information-300134797.html
SOURCE Brower Piven, A Professional Corporation