NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Jo-Ann Stores, Inc. (NYSE: JAS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Leonard Green & Partners. Under the terms of the transaction, Jo-Ann shareholders will receive $61 per share in cash for a total transaction value of approximately $1.6 billion.
The investigation concerns whether the Jo-Ann Stores Board of Directors breached their fiduciary duties to Jo-Ann Stores stockholders by failing to adequately shop the Company before entering into this transaction and whether Leonard Green is underpaying for Jo-Ann Stores shares.
If you own common stock in Jo-Ann Stores and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/joannstores.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.