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BELK INC
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Belk : SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Belk, Inc. And Encourages Investors To Contact The Firm For Additional Information

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08/28/2015 | 09:48pm CET

STEVENSON, Md., Aug. 28, 2015 /PRNewswire/ -- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Belk, Inc. ("Belk" or the "Company") (OTC PINK: BLKIA) relating to the proposed buyout of the Company by Sycamore Partners in a transaction valued at approximately $3.0 billion.

Under the terms of the transaction, Belk shareholders are anticipated to receive $68.00 in cash for each share of Belk common stock held. The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company's shares of common stock.

If you currently own common stock of Belk and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

CONTACT:
Charles J. Piven / Brower Piven, A Professional Corporation
1925 Old Valley Road / Stevenson, Maryland 21153
Telephone: 410-415-6616 / [email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-brower-piven-commences-an-investigation-into-the-proposed-sale-of-belk-inc-and-encourages-investors-to-contact-the-firm-for-additional-information-300134794.html

SOURCE Brower Piven, A Professional Corporation


© PRNewswire 2015
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Managers
NameTitle
Lisa M. Harper Chief Executive Officer
Thomas M. Belk Chairman
Adam M. Orvos Chief Financial Officer & Executive Vice President
H. W. McKay Belk Director
Lilicia P. Bailey Chief People Officer & Executive Vice President
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