NEW YORK, Aug. 29, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Castle Brands
Inc. ("Castle" or the "Company") (NYSE American: ROX) in
connection with the proposed acquisition of the Company through a
subsidiary of Pernod Ricard (OTCMKTS: PDRDF). Under the terms
of the acquisition agreement, Castle shareholders will get
$1.27 in cash, a pittance given the
Company's premium spirits portfolio.
If you own ROX shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Fill out the form on our
website
http://www.weisslawllp.com/castle-brands-inc/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether Castle's Board acted
to maximize shareholder value prior to entering into the
acquisition agreement. Specifically, analysts have recently
upgraded Castle's stock with two analysts issuing a "Buy"
rating. Additionally, the Company's Gosling's brand is the
number one ginger beer in the US by volume.
Given these facts, WeissLaw is concentrating its investigation
on whether the acquisition enhances shareholder value.
Notably, Pernod Richard's Chairman and CEO Alexandre Richard said, "Through this
acquisition we welcome this great brand portfolio, in particular,
Jefferson's bourbon whiskey, to the Pernod Ricard family.
Bourbon is a key category in the US which is our single most
important market." WeissLaw is also concerned whether the
proposed acquisition undervalues the Company, and whether all
material information related to the proposed acquisition is fully
and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-castle-brands-inc-300909282.html
SOURCE WeissLaw LLP