Petsmart Shareholder Alert – Buyout Of Petsmart, Inc. – National Securities Law Firm Seeks Higher Price For Shareholders. Encourages Shareholders To Contact Law Firm For More Information
December 15, 2014
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Petsmart, Inc.(NASDAQ: PETM) (“Petsmart” or the “Company”) on behalf of its’ shareholders. Petsmart announced that it has entered into an agreement to be acquired by a group of private equity firms led by BC Partners, Inc. at a price of $83.00 per share in cash. Longview Asset Management, which owns or manages approximately 9% of PetSmart’s outstanding shares is part of the group and has committed to vote in favor of the transaction.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors and senior management of Petsmart for not acting in Petsmart shareholders’ best interests in connection with the sale process of Petsmart. The investigation seeks to determine if there was an adequate auction process and if BC Partners is underpaying for Petsmart shares. The investigation further concerns whether the senior management of Petsmart may have acted in their own self-interests in selling the company to BC Partners.
If you are a shareholder of Petsmart and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliate, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.