Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of rue21, Inc. Over the Proposed Sale of the Company to Apax Partners
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of rue21, Inc. (“rue21” or the “Company”) (NasdaqGS: RUE) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Apax Partners in a deal valued at approximately $1.1 billion. Under the terms of the proposed transaction, rue21’s stockholders will receive $42 in cash for each share of rue21 common stock they own.
The investigation focuses on whether rue21’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 and by how much this proposed transaction undervalues the Company to the detriment of rue21’s shareholders.
If you own common stock in rue21 and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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