From the Wires
Morgan & Morgan Announces Investigation of Heelys, Inc. (HLYS)
By: PR Newswire
Dec. 10, 2012 12:02 PM
NEW YORK, Dec. 10, 2012 /PRNewswire/ -- Morgan & Morgan is investigating potential claims against the board of directors of Heelys, Inc. ("Heelys") (HLYS) concerning the proposed acquisition of Heelys by Sequential Brands Group, Inc. ("Sequential").
If you are a current shareholder of Heelys and are interested in learning more about our Heelys (HLYS) merger investigation, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at firstname.lastname@example.org.
On December 10, 2012, Heelys announced that it had entered into an agreement to be acquired by Sequential in a transaction valued at approximately $63 million. Under the terms of the agreement, Heelys' shareholders will receive $2.25 in cash for each share of Heelys stock owned. Heelys' board of directors has unanimously approved the proposed deal which is expected to close in the first half of 2013.
Our investigation concerns whether Heelys' board of directors has breached its fiduciary duties to act in the best interests of all of the Heelys shareholders and to take all necessary steps to ensure that Heelys' shareholders receive the maximum value readily available for their shares of Heelys common stock.
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