Robbins Arroyo LLP: Acquisition of Tumi Holdings, Inc. (TUMI) by Samsonite International S.A. May Not Be in Shareholders' Best Interests

SAN DIEGO & SOUTH PLAINFIELD, N.J.--()--Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Tumi Holdings, Inc. (NYSE:TUMI) by Samsonite International S.A. On March 3, 2016, the two companies announced the signing of a definitive merger agreement pursuant to which Samsonite International will acquire Tumi Holdings. Under the terms of the agreement, Tumi Holdings shareholders will receive $26.75 in cash for each share of Tumi Holdings common stock.

View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/tumi-holdings-inc

Is the Proposed Acquisition Best for Tumi Holdings and Its Shareholders?

Robbins Arroyo LLP's investigation focuses on whether the board of directors at Tumi Holdings is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.

On February 24, 2016, Tumi Holdings reported strong earnings results for its fourth quarter 2015. Specifically, Tumi Holdings reported an 8.8% increase in adjusted net income of $25.8 million, or $0.38 per diluted share. Additionally, Tumi holdings reported a 6.7% increase in adjusted net sales of $547.7 million for the year of 2015, compared to $527.2 million in the year ended December 31, 2014. Tumi Holdings also reported adjusted EBITDA of $44.8 million, an increase of 56.6% compared to $28.6 million for the third quarter 2015. In commenting on these results, Tumi Holdings Chief Executive Officer and President Jerome Griffith remarked, "Looking ahead, we will continue to make strategic investments to support our long-term growth initiatives and remain deeply committed to creating innovative products with exceptional quality and functionality for the global citizen…Overall, we are excited about the growth opportunities ahead of us."

In light of these facts, Robbins Arroyo LLP is examining Tumi Holdings' board of directors' decision to sell the company now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.

Tumi Holdings shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information. Tumi Holdings shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Robbins Arroyo LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003
ddonahue@robbinsarroyo.com
www.robbinsarroyo.com

Release Summary

Do you own shares of Tumi Holdings Inc.? Robbins Arroyo LLP is investigating claims on behalf of shareholders of Tumi.

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Contacts

Robbins Arroyo LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003
ddonahue@robbinsarroyo.com
www.robbinsarroyo.com