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If you purchased shares of Blyth, Inc. (NYSE:BTH) and currently hold any of those NYSE:BTH shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
November 15, 2013 (Shareholders Foundation) - An investor, who currently hold shares of shares of Blyth, Inc. (NYSE:BTH) filed a lawsuit in effort to halt the proposed takeover of Blyth, Inc. by CVSL, Inc for $16.75 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BTH stockholders arising out of the attempt to sell Blyth, Inc too cheaply via an unfair process to CVSL, Inc.
On October 29, 2013, Blyth, Inc. confirmed that it has received an unsolicited proposal from CVSL, Inc. to acquire, subject to conditions, all of the public common shares of Blyth for a per share consideration of $16.75, or approximately $269 million payable in CVSL shares or cash.
However, the plaintiff claims that the offer is too low and undervalues Blyth, Inc. Indeed, shares of Blyth, Inc. traded in 2012 as high as $44.00 per share and analysts have set the target price for NYSE:BTH shares at $40.00 per share. Blyth, Inc. reported that its annual Total Revenue rose from $827.61 million in 2011 to over $1.17 billion in 2012 and that its Net Income increased from $16.23 million to $44.00 million.
On Nov. 15, 2013, NYSE:BTH shares closed at $12.00 per share.