Dreams, Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg LLP
April 16 2012 - 12:36PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the Board of Directors of
Dreams, Inc. (“Dreams” or the “Company”) (NYSE Amex: DRJ) related
to the proposed acquisition of the Company by Fanatics, Inc. The
transaction is valued at approximately $183 million or $3.45 per
share.
This investigation concerns whether the Board of Directors of
Dream breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Its share price has
skyrocketed from $1.86 on October 31, 2011 to $3.00 on March 26,
2012. Further, at least one analyst has set a target price for the
Company’s stock at $5.00 per share.
If you are a shareholder of Dreams, if you have information or
would like to learn more about our investigation, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Louis Boyarsky, Esquire, Glancy Binkow
& Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, CA 90067, by telephone at 310-201-9150 or Toll Free at
888-773-9224 or by email to shareholders@glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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