BALA CYNWYD, Pa., June 25, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Tween Brands Inc. ("Tween Brands" or the "Company") (NYSE:TWB) relating to the proposed merger with Dress Barn Inc. ("Dress Barn") (Nasdaq:DBRN).
Under the proposed agreement, Tween Brands shareholders will receive a fixed exchange ratio of 0.47 shares of Dress Barn common stock for each share of Tween Brands common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Tween Brands Board's approval of the proposed acquisition. Based on Dress Barn's closing price on June 24, 2009, Tween Brands shareholders would receive $6.22 for each of their shares. However, as recently as August 11, 2008, Tween Brands shares were trading at $15.11 a substantially higher price than the proposed offer.
If you own shares of Tween Brands and wish to discuss the legal ramifications of the proposed acquisition by Dress Barn, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.