NEW YORK, March 3, 2020 /PRNewswire/ -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether Jumei International Holding Limited's (NYSE: JMEI) officers and directors breached their fiduciary duties or violated the federal securities laws in connection with the company's proposed sale to its controlling stockholder, Leo Ou Chen, through various affiliated entities.
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On February 25, 2020, Jumei International announced that it had signed an agreement to be purchased and taken private by Super ROI Global Holding Limited and Jumei Investment Holdings Limited, two entities controlled by Mr. Chen. Per the agreement, Super ROI and Jumei Investment will acquire all outstanding Class A ordinary shares and each American Depositary share ("ADS") representing ten Class A ordinary shares. Current stockholders of Jumei International will receive $2 in cash for each Class A ordinary share owned and $20 in cash for each ADS owned.
On February 26, 2020, Mr. Chen commenced a tender offer to acquire all of Jumei International's remaining outstanding shares, and the tender offer is scheduled to expire at the end of the day on March 25, 2020. The deal is scheduled to close shortly after the completion of the tender offer.
Bragar Eagel & Squire is concerned that Jumei International's board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Jumei International stockholders.
If you own shares of Jumei International and are concerned about the proposed merger, or you're interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Bragar Eagel & Squire, P.C.