NEW YORK--(BUSINESS WIRE)--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 Arden Group, Inc. (“Arden Group” or the “Company”) (NASDAQ:ARDNA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to TPG in a cash deal valued at approximately $394 million. Under the terms of the proposed transaction, Arden Group’s stockholders will receive $126.50 for each share of Arden Group common stock they own.
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The investigation focuses on whether the Company’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 Arden Group’s shareholders.
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If you own common stock in Arden Group, Inc. and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ARDNA 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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