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//house-home.news-articles.net/content/2011/09/1 .. announce-investigation-of-jakks-pacific-inc.html
Published in House and Home on Thursday, September 15th 2011 at 13:53 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating whether the Board of Directors and senior officers of JAKKS Pacific, Inc. (aJAKKS Pacifica) (NASDAQ: JAKK) breached their fiduciary duties to JAKKS Pacific shareholders in evaluating a recent buyout offer from funds managed by Oaktree Capital Management, L.P. Under the proposed sale, JAKKS Pacific shareholders would receive $20.00 in cash for each share of JAKKS Pacific/JAKK stock owned.
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 definitive acquisition agreement involves an all cash transaction valued at approximately $670 million.
Although the proposed buyout represents an approximate 25% premium over JAKKS Pacifica™s closing price the day before the offer, according to Yahoo! Finance, at least one analyst has set a target price of $24.00 per share for JAKKS Pacific stock. aWe are investigating whether the Board of Directors and senior officers of JAKKS Pacific are adhering to their fiduciary duties to JAKK shareholders while evaluating this proposed transaction. In particular, our investigation seeks to determine whether the Board of Directors and senior officers are engaging in a fair sales process, adequately representing the rights of the shareholders, and seeking to maximize the sales price for the shareholders. We are concerned that the proposed price significantly undervalues the shares,a said shareholder rights attorney Willie Briscoe.
[ 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.
