NEW YORK, June 29, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of BJ's Wholesale Club, Inc. ("BJ's" or the "Company") concerning the proposed acquisition of BJ's by Leonard Green & Partners, L.P. ("LGP") and funds advised by CVC Capital Partners ("CVC") in an all-cash transaction valued at $2.8 billion.
The investigation concerns whether the board of directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Private equity firm LGP has maintained a 9.5% ownership stake in the Company for over a year. Under the terms of the agreement, BJ's shareholders would receive $51.25 per share in cash for each share of BJ's common stock they hold. At least one research analyst has targeted the stock as high as $60.00 per share.
BJ shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at gfbruckner@pomlaw.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at rrboyle@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., 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 70 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 class members. See http://www.pomerantzlaw.com/">www.pomerantzlaw.com.