Bernstein Liebhard LLP announced today that it filed an action denominated Weisenberg v. J. Crew Group, Inc. et al., Civ. No. 10-115564 in New York Supreme Court on behalf of shareholders in J. Crew Group, Inc. (“J. Crew” or the “Company”) (NYSE: JCG). Plaintiff alleges that Defendants J. Crew, Millard Drexler, Mary Ann Casati, James Coulter, Steven Grand-Jean, David House, Heather Reisman, Stuart Sloan, Stephen Squeri, Josh Weston, TPG Capital, Leonard Green & Partners, L.P., Chinos Holdings, Inc., and Chinos Acquisition Corporation either breached their fiduciary duties to the Company, or aided and abetted such breaches, in agreeing that J. Crew be acquired by funds affiliated with TPG Capital and Leonard Green & Partners, L.P. for inadequate consideration of $43.50 per share (the “Transaction”).
Plaintiff seeks to enjoin Defendants’ unlawful conduct and to force the J. Crew Board to take the necessary steps to: (i) disclose all material information to the J. Crew shareholders necessary for them to make an informed voting decision on the Transaction; (ii) maximize shareholder value; and (iii) avail themselves of all material information necessary to make an informed judgment about the sale of the Company.
If you are interested in discussing your rights as a J. Crew shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last eight years.
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