WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Apex Global Brands Inc. in connection with the Company’s proposed merger with Galaxy Universal LLC (“Galaxy”), a wholesaling company focused on the athletic, work and outdoor categories. Under the terms of the merger agreement, Apex shareholders will receive only $2.00 in cash for each share of Apex common stock that they hold.
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Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether Apex’s board acted in the best interest of Apex’s public shareholders in agreeing to the proposed transaction, whether the $2.00 merger consideration represents full and fair value for Apex shares, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Apex public shareholders. Notably, the merger consideration represents a steep discount to Apex’s 52-week high trading price of $11.09 and is $0.45 below Apex’s closing stock price of $2.45 on February 12, 2021.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org