The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Volcom, In...
May 02 2011 - 7:55PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Volcom, Inc. (Nasdaq: VLCM) for possible breaches of
fiduciary duty and other violations of state law in connection with
the sale of the Company to a subsidiary of PPR SA. According to the
proposed transaction, Volcom shareholders will receive $24.50 per
share for a total transaction of approximately $516 million.
The investigation concerns whether the Volcom Board of Directors
breached their fiduciary duties to Volcom stockholders by failing
to adequately shop the Company before entering into this
transaction and whether PPR SA is underpaying for Volcom shares,
thus unlawfully harming Volcom stockholders. According to Yahoo!
Finance, at least one analyst placed a price target for Volcom
stock at $25 per share.
If you own common stock in Volcom and wish to obtain additional
information, please contact Abe Shainberg, Esq. either via email at
as@ashainberglaw.com or by telephone at (212) 425-7286, or visit
http://www.ashainberglaw.com/volcom-vlcm.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
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