NEW YORK, Dec. 23, 2013 /PRNewswire/ -- Pomerantz
Grossman Hufford Dahlstrom & Gross LLP is investigating claims
on behalf of investors of Arden Group, Inc. ("Arden" or the "Company") (NASDAQ: ARDNA)
(ISIN: US0397621097) (CUSIP: 039762109) concerning the proposed
acquisition of Arden by TPG
Capital.
The investigation concerns whether the Arden directors are breaching their fiduciary
duties by failing to adequately shop the Company and maximize
shareholder value. Under the terms of the agreement,
Arden shareholders will receive
$126.50 per share. However, the Price
to EBIT multiple is below the average of comparable transactions,
and the deal offer price of $126.50
per share, is below the Company's 52-week high of $136.99 per share.
Arden shareholders seeking more
information about this acquisition are advised to contact
Anna Karin F. Manalaysay at
amanalaysay@pomlaw.com or 212-661-1100 or 888-476-6529, ext.
283.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of defrauded
investors. See www.pomerantzlaw.com.
CONTACT:
Anna Karin F.
Manalaysay
Pomerantz Grossman Hufford Dahlstrom
& Gross LLP
212-661-1100 ext. 283
amanalaysay@pomlaw.com
SOURCE Pomerantz Grossman Hufford
Dahlstrom & Gross LLP