Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of
The Men’s Wearhouse, Inc.
SAN DIEGO -- November 5, 2013
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether
members of the officers and directors of The Men’s Wearhouse, Inc. (NYSE: MW)
breached their fiduciary duties in connection with the acquisition proposal
recently submitted by Jos. A. Bank Clothiers Inc. (NASDAQ: JOSB).
On September 18, 2013, Jos. A. Bank submitted a proposal to acquire Men’s
Wearhouse for $48 per share in cash. This represented a 42% premium to Men’s
Wearhouse previous day closing stock price. However, Men’s Wearhouse rejected
Jos. A Bank’s proposal and refused even to discuss a potential transaction.
On October 31, 2013, Jos. A. Bank informed Men’s Wearhouse that it would
consider increasing its proposal if it were given the opportunity to conduct
due diligence into Men’s Wearhouse business. Again, however, Men’s Wearhouse
responded that it was not interested in discussing a potential transaction
with Jos. A. Bank.
After Jos. A. Bank’s initial proposal was made public, on October 9, Men’s
Wearhouse’s stock price increased substantially, trading as high as $47.29 per
share. But after rejecting Jos. A. Bank a second time, on November 4, the
company’s stock price plunged and opened on November 5 at $42.09 per share.
Johnson & Weaver’s investigation will determine whether Men’s Wearhouse
directors are acting in the company’s and its shareholders’ best interests by
refusing to consider its strategic alternatives, including a possible
transaction with Jos. A. Bank.
If you are a shareholder of Men’s Wearhouse and would like to learn more about
this investigation or your legal rights and remedies, please contact Johnson &
Weaver’s lead analyst Jim Baker at 619-230-0063 or by email at
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law
firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
Johnson & Weaver, LLP
Jim Baker, 619-230-0063 Ext. 118
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