Law Firm Brower Piven Announces Class Action Lawsuit in Connection With Claims
of Breaches of Fiduciary Duty by the Board of Maidenform, Inc. in Connection
With a Proposed Buyout
STEVENSON, Md., July 31, 2013 (GLOBE NEWSWIRE) -- The securities litigation
firm of Brower Piven, A Professional Corporation, announces that a class
action lawsuit has been commenced in the Delaware Chancery Court on behalf of
all common stockholders of Maidenform, Inc. ("Maidenform" or the "Company")
According to the complaint, under the terms of the proposed transaction,
HanesBrands, Inc. ("Hanes") would acquire the outstanding shares of Maidenform
for $23.50 per share in cash. The complaint alleges that the proposed
transaction is the result of an unfair process that fails to maximize
stockholder value, and is designed to ensure the acquisition of Maidenform by
Hanes on terms preferential to Hanes and Company insiders but detrimental to
Maidenform public stockholders. The complaint also alleges that the proposed
consideration agreed to by the defendants is grossly unfair.
If you currently own common stock of Maidenform and would like to learn more
about the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to answer
your questions. You may contact Brower Piven by email at
email@example.com, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.
CONTACT: Brower Piven, A Professional Corporation
Charles J. Piven, (410) 415-6616
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