The Shuman Law Firm Announces Investigation on Behalf of Bare Escentuals, Inc. Shareholders
January 19 2010 - 10:28AM
Business Wire
The Shuman Law Firm today announced that it is investigating
potential breaches of fiduciary duty and other violations of state
law on behalf of shareholders of Bare Escentuals, Inc. ("Bare
Escentuals" or the “Company”) (NASDAQ: BARE) in connection with the
Company’s proposed merger with Shiseido Co., Ltd. ("Shiseido"), a
Japan-based global cosmetics company, through an all-cash tender
offer and second-step merger.
Under the terms of the merger agreement, Bare Escentuals'
shareholders will receive $18.20 per share in cash for each share
of Bare Escentuals they own. Upon completion of the tender offer,
Shiseido intends to acquire the remaining outstanding shares of
Bare Escentuals' common stock for $18.20 per share through a
second-step merger. The tender offer is scheduled to commence
within 10 business days and is expected to close during the first
quarter of 2010.
The investigation concerns whether Bare Escentuals' Board of
Directors undertook a fair process to obtain a fair price for all
shareholders of Bare Escentuals. In addition, the investigation is
seeking to determine whether management may be benefiting
unlawfully at the expense of Bare Escentuals' public shareholders
because key management, including its chief executive and financial
officers, will remain at the company following the merger.
If you are interested in discussing your rights as a Bare
Escentuals shareholder, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in securities class actions and
shareholder derivative actions.
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