SAN DIEGO, June 18, 2018 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against Energy XXI Gulf Coast, Inc., and Perry Ellis International, Inc. as detailed below:
Energy XXI Gulf Coast, Inc.
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Energy XXI Gulf Coast, Inc. (NASDAQ: EGC) ("Energy XXI") breached their fiduciary duties in connection with the proposed sale of the Company to Cox Oil ("Cox").
On June 18, 2018, Energy XXI announced that it had signed a definitive merger agreement with Cox. Under the terms of the agreement, Energy XXI shareholders will only receive $9.10 in cash for each share.
The investigation concerns whether the Energy XXI board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Energy XXI shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given Wall Street analysts' projections for future revenue and earnings growth. The 52-week high for Energy XXI is $23.49.
If you are a shareholder of Energy XXI and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
Perry Ellis International, Inc.
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Perry Ellis International, Inc. (NASDAQ: PERY) ("Perry Ellis") breached their fiduciary duties in connection with the proposed sale of the Company to a newly formed entity controlled by George Feldenkreis, Perry Ellis' founder and member of the Company's Board of Directors.
On June 18, 2018, Perry Ellis announced that it had signed a definitive merger agreement with George Feldenkreis. Under the terms of the agreement, shareholders of Perry Ellis will receive $27.50 in cash for each share of Perry Ellis common stock.
The investigation concerns whether the Perry Ellis board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Perry Ellis shares of common stock.
If you are a shareholder of Perry Ellis and believe (1) the proposed buyout price is too low or (2) the merger benefits management more than the shareholders, and (3) you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker
619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
