Heelys Investor Alert: The Briscoe Law Firm And Powers Taylor, LLP Investigate Sale To Sequential Brands Group

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Heelys, Inc. (“Heelys”) (Nasdaq: HLYS) to Sequential Brands Group for shareholders. Under the terms of the proposed deal valued at approximately $63.2 million, Heelys shareholders will only receive approximately $2.25 in cash for each share of Heelys stock owned, well below the 52-week high of $2.68 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 patrick@powerstaylor.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 Heelys sale investigation centers on whether Heelys’ shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Heelys’ stock, and whether Heelys’ board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Patrick Powers, “due to the size of the deal, analysts’ estimates, and other factors, we believe that this transaction may undervalue Heelys' 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.

Copyright Business Wire 2010

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