SOURCE: Shareholders Foundation, Inc.

Shareholders Foundation, Inc.

February 18, 2014 09:40 ET

Jos. A. Bank Clothiers Inc (JOSB) Investor Lawsuit Over Rejected Takeover announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwired - Feb 18, 2014) - The Shareholders Foundation, Inc. announces that an investor who currently holds shares of Jos. A. Bank Clothiers Inc (NASDAQ: JOSB) filed a lawsuit in connection with the rejected offer by The Men's Wearhouse to takeover Jos. A. Bank Clothiers Inc.

Investors who purchased shares of Jos. A. Bank Clothiers Inc (JOSB) prior to November 2013 and currently hold any of those JOSB shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

On November 26, 2013, Jos. A. Bank Clothiers Inc confirmed that it has received an acquisition proposal from The Men's Wearhouse, Inc. 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 that offer. On January 6, 2014, Jos. A. Bank Clothiers Inc confirmed that The Men's Wearhouse, Inc. has commenced a 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.

The plaintiff alleges that directors of Jos. A. Bank Clothiers Inc breached their fiduciary duties owed to JOSB stockholders by rejecting the offer by The Men's Wearhouse and by implementing tougher takeover defenses at Jos. A. Bank Clothiers Inc after the takeover offer. Those who currently are investors in Jos. A. Bank Clothiers Inc (NASDAQ: JOSB) have certain options and should contact the Shareholders Foundation.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108