Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Maidenform, Inc. (“Maidenform”) (NYSE: MFB) to HanesBrands for shareholders. Under the terms of the proposed merger agreement, valued at approximately $575 million, Maidenform shareholders will receive only $23.50 in cash for each share of Maidenform stock owned, well below the 52-high of $26.37. If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607 or via email at firstname.lastname@example.org. There is no cost or fee to you. The Maidenform sale investigation centers on whether shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values Maidenform stock, and whether Maidenform’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, the proposed sale price is nearly $3 below the 52-week high of $26.37. 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.
Maidenform Brands (NYSE:MFB) hit a new 52-week high Wednesday as it is currently trading at $31.98, above its previous 52-week high of $31.84 with 46,408 shares traded as of 9:41 a.m. ET. Average volume has been 156,300 shares over the past 30 days.