Faruqi & Faruqi, LLP Announces Investigation of Cost Plus, Inc. (CPWM)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cost Plus, Inc. (“Cost Plus” or the “Company”) (NASDAQ: CPWM) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Bed Bath and Beyond Inc. (NASDAQ: BBBY) in an all-cash deal valued at about $494 million. Under the terms of the proposed transaction, Cost Plus stockholders will receive $22.00 in cash for each share of Cost Plus common stock they own. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
Whether the Board of Directors of Cost Plus 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 Cost Plus shares and by how much this proposed transaction undervalues the Company to the detriment of Cost Plus shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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