SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of The Warnaco Group, Inc. In Connection With The Sale Of The Company To PVH Corp.
Levi & Korsinsky is investigating the Board of Directors of The Warnaco
Levi & Korsinsky is investigating the Board of Directors of The Warnaco Group, Inc. (“Warnaco” or the “Company”) (NYSE: WRC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to PVH Corp. (“PVH”) (NYSE: PVH). Click here to learn more about the investigation http://zlk.9nl.com/warnaco-group-wrc/, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, Warnaco shareholders will receive $51.75 in cash and 0.1822 of a PVH common share for each share of Warnaco stock they own, a value of approximately $64.83 per Warnaco share. The transaction has a total approximate value of $2.9 billion. The investigation concerns whether the Warnaco Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether PVH is underpaying for Warnaco shares, thus unlawfully harming Warnaco stockholders. If you own common stock in Warnaco and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/warnaco-group-wrc/. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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.