Faruqi & Faruqi, LLP Announces Investigation of Prestige Brands Holdings, Inc. (PBH)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Prestige Brands Holdings, Inc. (“Prestige” or the “Company”) (NYSE: PBH) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Genomma Lab Internacional, S.A.B. in an all-cash deal valued at about $834 million, not including Prestige’s net debt.  Under the terms of the proposed transaction, Prestige stockholders will receive $16.60 in cash for each share of Prestige’s common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $20.00 for Prestige.

Whether Prestige’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Prestige’s shares and by how much this proposed transaction undervalues the Company to the detriment of Prestige’s shareholders are the key focus of this investigation.