The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Dreams...
16 Abril 2012 - 12:43PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Dreams, Inc. (“Dreams” or the “Company”) (NYSE Amex: DRJ) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Fanatics, Inc.
Under the terms of the transaction, Dreams shareholders will
receive $3.45 for each Dreams share they own. The transaction has a
total approximate value of $183 million, including the assumption
of debt. Shareholders owning approximately 35% of Dreams’
outstanding shares have agreed to tender their shares.
Click here to learn how to join the action:
http://www.zlk.com/dreams-drj, or call: 877-363-5972. There is no
cost or obligation to you.
The investigation concerns whether the Dreams Board of Directors
breached their fiduciary duties to Dreams stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Fanatics, Inc. is underpaying for Dreams
shares, thus unlawfully harming Dreams stockholders. In particular,
at least one analyst set a price target for Dreams stock at $5.00
per share.
If you own common stock in Dreams and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
Dreams, Inc. (AMEX:DRJ)
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