Faruqi & Faruqi, LLP Announces the Investigation of Belk Inc. (BLKIA) Over the Proposed Sale of the Company to Sycamore Partners
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Belk Inc. (“Belk” or the “Company”) (OTC MKTS: BLKIA) for potential breaches of fiduciary duties in connection with the sale of the Company to Sycamore Partners for approximately $3.0 billion in a cash transaction.
The Company’s stockholders will only receive $68.00 for each share of Company common stock they own. The offer represents a negligible premium over the Company’s opening price per share of $66.75 on August 28, 2015 and the stock is expected to continue climbing due to record online sales.
If you own common stock in Belk and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org 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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