SOURCE: Shareholders Foundation, Inc.

Shareholders Foundation, Inc.

June 20, 2011 09:37 ET

Shareholders Foundation Announces Timberland Investor Lawsuit Against Takeover by VF Corp.

SAN DIEGO, CA--(Marketwire - Jun 20, 2011) - The Shareholders Foundation, Inc. announces that a lawsuit has been filed in State Court on behalf of current investors in the Timberland Company (TBL) over alleged breaches of fiduciary duties arising out of the attempt to sell the Timberland Company too cheaply to VF Corporation.

Those who currently are investors in shares of the Timberland Company (TBL) and purchased TBL shares before June 13, 2011, should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

On Monday, June 13, 2011, VF Corporation (VFC), and The Timberland Company announced that they have signed a merger agreement under which VF Corp. will pay the Timberland company shareholders $43 per TBL share or at a total enterprise value of approximately $2 billion net of cash.

However, the plaintiff alleges that the proposed $43 per share represents no premium, but in fact a discount, to Timberland's recent trading price. In fact, the Timberland Company (TBL) shares traded as early as April as high as $45.19 per share, well above the current offer.

Additionally, the Timberland Company performance has been increasing. Timberland Company was able to increase its annual Revenue from $1.285billion in 2009 to $1.429billion in 2010. Additionally its Net Income rose from $40.00million in 2007 to $96.62million in 2010. For the first quarter in 2011 the Timberland Company reported increased quarterly Revenue of $349.00million compared to $317.04million one year earlier.

Those who currently are investors in shares of the Timberland Company (TBL) and purchased their shares before the announcement, should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring service and an investor advocacy group 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