The Shareholders Foundation announces that an investigation on behalf of investors in Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Jos. A. Bank Clothiers Inc.
Investors who are current long term stockholders in Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Jos. A. Bank Clothiers Inc officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On November 26, 2013, Jos. A. Bank Clothiers Inc confirmed that it has received an unsolicited, non-binding acquisition proposal from The Men’s Wearhouse, Inc. (NYSE:MW). The Men’s Wearhouse proposed to acquire all of the outstanding shares of Jos. A. Bank Clothiers (Nasdaq: JOSB) common stock for $55.00 per share in cash. On December 23, 2013, Jos. A. Bank Clothiers Inc rejected the offer made by The Men’s Wearhouse, Inc on November 26, 2013. On January 3, 2014, Jos. A. Bank Clothiers Inc announced that its Board of Directors has approved an amendment to its shareholder rights plan to, among other things, reduce the ownership threshold to 10 percent from 20 percent of outstanding common shares. On January 6, 2014, Jos. A. Bank Clothiers Inc confirmed that The Men’s Wearhouse, Inc. (NYSE:MW) has commenced an unsolicited tender offer to acquire all outstanding common shares of the Company at a price of $57.50 per share, which the board of directors of Jos. A. Bank Clothiers Inc rejected on January 17, 2014.
Then on March 11, 2014, The Men’s Wearhouse (MW) and Jos. A. Bank Clothiers Inc announced that they have entered into a definitive agreement under which Men’s Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $65.00 per share in cash, or total consideration of $1.8 billion.
Shares of Jos. A. Bank Clothiers Inc closed on April 1, 2014, at $64.36 per share.
Those who purchased shares of certain Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com