Volcom Investor Sues Over Proposed $600M PPR Offer

Law360, New York (May 16, 2011, 5:30 PM EDT) -- A Volcom Inc. shareholder launched a proposed class action in Delaware on Friday, seeking to block the fashion label's impending $607.5 million sale to PPR SA, the French owner of luxury brands Puma, Gucci and Alexander McQueen.

Investor Gabriel Graff contends that the proposed deal, under which PPR would pay $24.50 per share for Volcom's outstanding stock, forces shareholders to accept the severely undervalued offer. The per share price represents a 37 percent premium over the average trading price of Volcom shares over the past three...
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