The Briscoe Law Firm Announces Investigation Of The Timberland Company
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of The Timberland Company (“Timberland Co.” or “TBL”) (NYSE: TBL) related to the acquisition of Timberland Co. by VF Corporation.
The definitive merger agreement involves an all-cash transaction valued at approximately $2 billion, net of cash acquired. Under the proposed buyout, Timberland Co. shareholders will receive only $43 in cash for each share of Timberland Co./TBL common stock they hold. The transaction is expected to closed in the third quarter of 2011.
The firms are investigating the fairness of the proposed transaction to Timberland Co. shareholders and whether the shareholders are being underpaid for their stock. In particular, although the acquisition price represents a premium over Timberland Co.’s closing price the day before the announcement, as recently as April 29, 2011 Timberland Co.’s shares closed at over $44.80 per share. Further, the investigation is focused on the timing of the acquisition. Timberland Co.’s shares have fallen drastically in the 45-day period prior to the acquisition announcement after Timberland Co. released negative first quarter financial results in early May. Based on these and other factors, the firms do not believe that the acquisition price is fair to Timberland Co. shareholders.
If you currently own shares of Timberland Co./TBL and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
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