BALA CYNWYD, PA / ACCESSWIRE / July 7, 2017 / The law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of West Marine, Inc. ("West Marine" or "the Company") (NASDAQ: WMAR - News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Monomoy Capital Partners ("Monomoy").
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Under the terms of the transaction, West Marine shareholders will receive only $12.97 in cash for each share of West Marine stock they own. The investigation concerns whether the Board of West Marine breached their fiduciary duties to shareholders and whether Monomoy is underpaying for the Company. The transaction may undervalue the Company and would result in a either a loss or no real gain for many long-term holders of West Marine stock. For example, shares of West Marine stock have traded at $14.16 per share and Monomoy is paying only just over 1.5 times net current asset value. However, at 2 times net current asset value, West Maine shareholders would receive approximately $17.00 per share.
If you own shares of West Marine stock and wish to discuss the legal ramifications of the investigation, 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 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/west-marine-inc-nasdaq-wmar/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC