Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Warnaco Group, Inc. (“Warnaco”) (NYSE: WRC) to PVH Corp. for shareholders. Under the proposed sale, Warnaco shareholders will only receive $51.75 in cash and 0.1822 of a share of PVH common stock for each share of Warnaco stock owned. The deal is valued at approximately $2.9 billion and based upon PVH’s last closing price, shareholders are estimated to receive total consideration of approximately $68 per share. If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Warnaco sale investigation centers on whether Warnaco shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Warnaco stock, and whether Warnaco’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Shareholder rights attorney Willie Briscoe stated that “because Warnaco shareholders will receive a combination of cash and PVH common stock for their shares, we believe that the transaction may undervalue Warnaco stock. Our lawsuit will seek to obtain the highest share price for all shareholders.” The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Warnaco Group (NYSE:WRC) hit a new 52-week high Wednesday as it is currently trading at $73.75, above its previous 52-week high of $73.73 with 98,743 shares traded as of 11:01 a.m. ET. Average volume has been 583,800 shares over the past 30 days.
Warnaco Group (NYSE:WRC) hit a new 52-week high Friday as it is currently trading at $73.43, above its previous 52-week high of $73.42 with 31,440 shares traded as of 10:15 a.m. ET. Average volume has been one million shares over the past 30 days.
Warnaco Group (NYSE:WRC) hit a new 52-week high Tuesday as it is currently trading at $73.26, above its previous 52-week high of $73.25 with 234,399 shares traded as of 3:30 p.m. ET. Average volume has been 983,300 shares over the past 30 days.