Rigrodsky & Long, P.A. Investigates Buyout of BJ's Wholesale Club, Inc. for Shareholders

  • Do you own BJ's Wholesale Club, Inc. common stock?
  • Did you purchase your shares prior to June 29, 2011?
  • Do you feel the Company's sale to Leonard Green & Partners, L.P. and CVC Capital Partners is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of BJ’s Wholesale Club, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners in a transaction valued at approximately $2.8 billion.

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Rigrodsky & Long, P.A. Investigates Buyout of BJ's Wholesale Club, Inc. for Shareholders

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of BJ’s Wholesale Club, Inc. (“BJ’s Wholesale” or the “Company”) (NYSE: BJ) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Leonard Green & Partners, L.P. (“LGP”) and funds advised by CVC Capital Partners (“CVC”) in a transaction valued at approximately $2.8 billion.

Under the proposed agreement, BJ’s Wholesale shareholders will receive $51.25 per share in cash for each share of BJ’s Wholesale common stock they hold.

The investigation concerns whether BJ’s Wholesale’s board of directors adequately shopped the Company to obtain the best price possible for BJ’s Wholesale’s shareholders before entering into the agreement with LGP and CVC.  Indeed, according to Yahoo! Finance, at least one analyst has set a $60.00 per share target for BJ’s Wholesale stock.

As recent as May 18, 2011, BJ’s Wholesale announced its first quarter 2011 earnings wherein the Company reported net income of $33.7 million which exceeded the Company’s guidance for net income of $29.5 million to $31.5 million.  BJ’s president and chief executive officer, Laura Sen, commented: “BJ’s is off to a great start in 2011.  Our stronger than expected performance for the first three months of 2011 reflects net sales above plan, continued margin expansion and excellent cost control.  I am very proud of our team members in the field, distribution centers and home office for delivering another great quarter.”

 

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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