The Timberland Company
Robbins Umeda LLP Is Investigating the Acquisition of the Timberland Company
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of the Timberland Company. (“Timberland”) (NASDAQ: TBL). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Timberland in connection with their efforts to sell the company to VF Corporation. (NASDAQ: VFC).
On June 13, 2011, VF Corporation signed a definitive agreement to purchase Timberland. Under the terms of the agreement, VF Corporation will acquire Timberland for $43.00 per share, in a transaction valued at approximately $2 billion. The transaction is expected to close in the third quarter 2011.
The investigation focuses on whether Timberland’s board is undertaking a fair process to obtain maximum value and adequately compensate its shareholders, particularly in light of the company’s recent trading price. In April and May 2011, the company’s stock traded over the offer price on multiple occasions, rising as high as $45.72, and closing at $45.30 on April 28, 2011, and trading as high as $43.57 as recently as May 3, 2011.
If you own stock in Timberland and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.