The Ademi Firm is investigating Guess (NYSE: GES) for possible breaches of fiduciary duty and other violations of law in its transaction with Authentic Brands and the co-founders.
Shareholders of Guess will receive $16.75 per share in cash or approximately $1.4 billion, including debt. Guess insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Guess by imposing a significant penalty if Guess accepts a competing bid. We are investigating the conduct of the Guess board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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