Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of The Warnaco Group, Inc. (“Warnaco” or the “Company”) (NYSE: WRC) (ISIN: US9343904028) concerning the proposed acquisition of Warnaco by PVH Corp. in a cash and stock transaction valued at approximately $2.9 billion. The investigation concerns whether the Warnaco directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Warnaco shareholders would receive $51.75 in cash and 0.1822 of a share of PVH Corp. common stock for each share of Warnaco common stock, for a total of $68.43 per Warnaco common share. However, at least one analyst set a target price for Warnaco of $75.00 per share. Warnaco shareholders seeking more information about this acquisition are advised to contact Samuel J. Adams at email@example.com or 212-661-1100 or 888-476-6529, ext. 300. The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
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.