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NEW YORK, Dec 13, 2012 (BUSINESS WIRE) -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Best Buy Co. ("Best Buy" or the "Company") (NYSE:BBY) for potential breaches of fiduciary duties in connection with their conduct related to the proposed buyout of the Company by its Founder and former Chairman, Richard Schulze, who is currently Best Buy's largest shareholder, controlling approximately 21% of Best Buy shares. Under the terms of the proposed transaction, the stockholders of Best Buy will receive between $24 and $26 in cash for each share of Best Buy common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $36.00 for BestBuy.
Request more information now by clicking here: www.faruqilaw.com/BBY. There is no cost or obligation to you.
Whether Best Buy's Board of Directors is acting in accordance with their fiduciary duties to Best Buy's stockholders to conduct an adequate and fair sales process to sell the Company, whether the proposed transaction undervalues Best Buy's shares, whether Best Buy's Board of Directors is adequately negotiating a price increase for the proposed transaction and by how much this proposed transaction undervalues the Company to the detriment of Best Buy's shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Best Buy and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/BBY or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
SOURCE: Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Juan E. Monteverde, Esq. firstname.lastname@example.org Toll Free: (877) 247-4292 Phone: (212) 983-9330
Copyright Business Wire 2012
As of Sunday, 12-09-2012 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated a DOWNTREND on
03-29-2012 for BBY @ $24.72.
For more information on SmarTrend, contact your market data
provider or go to www.mysmartrend.com
SmarTrend is a registered trademark of Comtex News Network, Inc.
Copyright A? 2004-2012 Comtex News Network, Inc. All rights reserved.
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