Morgan & Morgan Announces Investigation of Heelys, Inc. (HLYS)
NEW YORK, Dec. 10, 2012 /PRNewswire/ -- Morgan &
Morgan is investigating potential claims against the board of
directors of Heelys, Inc. ("Heelys") (HLYS) concerning the proposed
acquisition of Heelys by Sequential Brands Group, Inc.
("Sequential").
If you are a current shareholder of Heelys and are interested in
learning more about our Heelys (HLYS) merger investigation, please
contact George Pressly, Esq.
at 1 (800) 631-6234 or email George at
info@morgansecuritieslaw.com.
On December 10, 2012, Heelys
announced that it had entered into an agreement to be acquired by
Sequential in a transaction valued at approximately $63 million. Under the terms of the agreement,
Heelys' shareholders will receive $2.25 in cash for each share of Heelys stock
owned. Heelys' board of directors has unanimously approved
the proposed deal which is expected to close in the first half of
2013.
Our investigation concerns whether Heelys' board of directors
has breached its fiduciary duties to act in the best interests of
all of the Heelys shareholders and to take all necessary steps to
ensure that Heelys' shareholders receive the maximum value readily
available for their shares of Heelys common stock.
About Morgan & Morgan
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In addition to securities fraud, the firm also practices in the
areas of antitrust, personal injury, consumer protection, overtime,
and product liability. All of the Firm's legal endeavors
are rooted in its core mission: provide investor and consumer
protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar
outcome.
Contact:
Morgan & Morgan
Peter Safirstein, Esq.
Five Penn Plaza
23rd Floor
New York, NY 10001
1-800-631-6234
info@morgansecuritieslaw.com
SOURCE Morgan & Morgan
