BOSTON--(BUSINESS WIRE)--The law firm of Berman DeValerio is investigating possible breaches of fiduciary duties related to the proposed sale of Belk, Inc. (OTC: BLKIA) (“Belk” or the “Company”) to Sycamore Partners. In particular, Berman DeValerio (www.bermandevalerio.com) is investigating whether Belk’s Board of Directors conducted an adequate and fair sales process to obtain maximum value for the Company’s shareholders before approving the transaction, and whether Sycamore Partners is underpaying for Belk shares.
Under the terms of the proposed transaction, Belk shareholders will receive only $68.00 in cash for each share of Belk common stock held. Richard Collings, analyst for the online investor publication TheStreet, recently penned an article reviewing the proposed transaction, determining that it is a “steal” and a “bargain” for Sycamore Partners. The Belk family controls the Company and will have a continuing stake in the Company following the sale.
If you currently hold shares of Belk and would like more information regarding this matter, or if you wish to share information about the matter, you may contact attorneys Mark A. Delaney or Nathaniel Orenstein by phone at 617.542.8300 or by email at firstname.lastname@example.org and email@example.com.
Berman DeValerio is a national law firm representing plaintiffs in lawsuits against corporate wrongdoers, chiefly for violations of securities and antitrust laws. The firm has 39 lawyers in Boston, San Francisco and Palm Beach Gardens, Florida.
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