The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Saks Incorporated (“Saks” or the “Company”) (NYSE: SKS) and other violations of state law by the board of directors of Saks relating to the proposed buyout of the Company by Hudson’s Bay Company. The firm’s investigation seeks to determine, among other things, whether the board of directors of Saks breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed buyout, Saks shareholders will receive $16.00 per share in cash for each share of Saks common stock they own. According to Yahoo! Finance, the high analyst price target is $18.50 per Saks share.
If you currently own common stock of Saks and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.