NEW YORK, Jan. 30, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of CSS
Industries, Inc. ("CSS" or the "Company") (NYSE: CSS) in connection
with the proposed merger of the Company with Design Group Americas,
a subsidiary of IG Design Group PLC. Under the terms of the
merger agreement, CSS shareholders will receive $9.40 per share in cash. The deal is
scheduled to close in the first quarter of 2020.
If you own CSS shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, visit our
website:
http://www.weisslawllp.com/css-industries-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether the CSS Board acted to
maximize shareholder value prior to entering into the merger
agreement. Notably, the merger agreement prohibits CSS from
soliciting or considering any other offers. Additionally, the
Company reported net income of $3.5
million in the second quarter of fiscal year 2020, an
improvement of $8.4 million when
compared to the operating loss of $5.8
million the Company reported in the same period last
year. Finally, the deal is a strategic transaction through
which Design Group will leverage CSS' customer base, manufacturing
capabilities, and recognized brand portfolio to double the scale of
its US business and strengthen its position as a global leader in
consumer gift packaging and distribution.
Given these facts, WeissLaw is concerned whether the proposed
merger agreement undervalues the Company, whether the Board ran a
fair process, 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
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SOURCE WeissLaw LLP
