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| Protecting the Rights of Shareholders and Consumers |
Charlotte Russe Holding, Inc. Securities Litigation
On August 24, 2009, Charlotte Russe Holding, Inc. (“Charlotte Russe” or the “Company”) announced that it agreed to sell the
Company to Advent International Corp. Under the terms of the agreement, Charlotte Russe shareholders will receive $17.50 in
cash for each share of Charlotte Russe they own for a total transaction value of approximately $380 million. The investigation
concerns whether the Charlotte Russe Board of Directors expected earnings in the past couple of quarters and that the purchase
price is only 4.5 times EBITDA, which one analysts called "a pretty good discount" for an acquisition of a specialty retailer.
Levi & Korsinsky is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Charlotte
Russe arising out the agreement to sell the Company under these terms.
Company to Advent International Corp. Under the terms of the agreement, Charlotte Russe shareholders will receive $17.50 in
cash for each share of Charlotte Russe they own for a total transaction value of approximately $380 million. The investigation
concerns whether the Charlotte Russe Board of Directors expected earnings in the past couple of quarters and that the purchase
price is only 4.5 times EBITDA, which one analysts called "a pretty good discount" for an acquisition of a specialty retailer.
Levi & Korsinsky is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Charlotte
Russe arising out the agreement to sell the Company under these terms.
