Bare Escentuals, Inc Merger Litigation (Nasdaq: BARE)
Law Office of Brodsky & Smith, LLC Announces Investigation of Bare Escentuals, Inc.
BALA CYNWYD – (BUSSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Bare Escentuals, Inc. (“Bare Escentuals” or the “Company”) (Nasdaq: BARE – News) relating to the proposed acquisition by Shiseido Co., Ltd. (“Shiseido”). Shiseido will acquire Bare Escentuals for approximately $1.7 billion through an all-cash tender offer. Under the proposed agreement, Bare Escentuals shareholders will receive $18.20 for every share of Bare Escentuals common stock they own.
The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Bare Escentuals board’s approval of the proposed merger. Specifically, if conflicts of interest played a role in the transaction because after the acquisition is completed Bare Escentuals will be operated as a Shiseido subsidiary under its current management, Leslie Blodgett has agreed to exchange 40% of her existing common stock in Bare Escentuals for a continuing interest in the Company following completion of the tender offer, and both the Chief Operating Officer and Chief Financial Officer have entered into new employment contracts with Bare Escentuals that take effect upon the closing of the tender offer.
If you own shares of Bare Escentuals and wish to discuss the legal ramifications of the proposed acquisition, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or by calling toll free 877-LEGAL-90.
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